IRCo's DCP plummeted by 34.50 US cents/kg. during the week under review to 292.68 US cents/kg., a level last seen in the first trading week of the year.
The Greek sovereign debt issue turned for the worst with deadly riots and concerns deepened on the spread of the sovereign debt issue to other Euro zones and the likely effect on the nuance recovery of the world economy, with pessimistic pundits calculating on the advance of a second dip in a w-shaped recovery.
Sentiment dampened as investors around the globe turned to less riskier assets with losses recorded across the board on futures exchanges, equity markets, crude oil and forex.
Further, buyers in the rubber physical market were on the sidelines expecting lower prices with improvement in supply as major producing countries in South East Asia come out of the low production wintering season.
(Irco.biz)
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