Financial Daily from THE HINDU group of publications
Wednesday, Jul 17, 2002

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Agri-Biz & Commodities - Rubber

Rubber recedes

Our Correspondent


RUBBER prices have started receding again in the absence of both sellers and buyers.

The supply, which firmed up during the last few days, became sparse following sudden stoppage of inflow to the market.

The buyers also were absent in the market as the tyre group remained indecisive about the rate at which their ongoing procurement process should be settled. Covering purchases also came to a halt. Transaction volume was low.

Traders expressed the hope that if the tyre companies could fix up the weekly rate the transactions would improve and the volume would pick up.

Sheet rubber RSS-4 further declined to Rs 38.25 from Rs 38.75 a kg on Monday. RSS-5 fell to Rs 35 from Rs 35.50.Block rubber ISNR-20 remained steady at Rs 35 and the ungraded at Rs 34 while latex 60 per cent was traded only at Rs 33.

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