Financial Daily from THE HINDU group of publications
Tuesday, Jan 13, 2004
Financial Daily from THE HINDU group of publications Tuesday, Jan 13, 2004 |
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Agri-Biz & Commodities
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Rubber Spot rubber steady Our Correspondent
Kottayam , Jan. 12 THE spot rubber market remained steady on Monday as growers and traders were reluctant to sell rubber at lower levels. Sheet rubber RSS 4 closed at Rs 51.50 as on Saturday. According to market sources, the ease in selling pressure might help the market to recover in the days ahead. "Since there is enough stockpile we are keeping out of the market," a spokesperson from the tyre sector told Business Line. The present climate favours production and the increase in supply would push down the rates further. The futures market was better on Monday. The near month February delivery was quoted at Rs 53.50 (Rs 52.71), March at Rs 55.50 (Rs 54.83), April at Rs 58.30 (R 57.77), May at Rs 60.25 (Rs 59.59) and June at Rs 62.35 (Rs 61.47) per kg for RSS 4. The spot market rates per kg on Monday were RSS 4 Rs 51.50 (Rs 51.50), RSS 5 Rs 50 (Rs 50), Ungraded Rs 48 (Rs 48), ISNR 20 Rs 50.75 (Rs 50.75), and Latex 60% Rs 40 (Rs 40).
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