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Thursday, May 06, 2004

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Rubber rises on renewed buying

Our Correspondent

Kottayam , May 5

SPOT rubber rates improved on Wednesday. The covering groups continued to chase the narrow arrivals offering better quotations to fulfil their early commitments.

Moderate purchases from the general rubber goods sector were also reported from the trading floors. All the grades except latex gained on renewed buying interest. RSS 4 closed at Rs 58.00 against Rs 57.75 on Tuesday. Meanwhile arrivals hit the bottom line amidst widespread rains in the plantation areas.

The futures market continued its positive trend on Wednesday. The May delivery was quoted at Rs 57.92 (57.40), June delivery at Rs 59.35 (58.85), July delivery at Rs.59.25 (58.87) and August delivery at Rs 58.45 (58.34) per kg for RSS 4.The transactions were meagre.

The Wednesday spot market rates per kg were as follows: RSS 4 Rs 58.00 (57.75), RSS 5 Rs 56.75 (56.50), ungraded Rs 56.00 (55.75), ISNR 20 Rs 56.50 (56.25), latex 60 per cent Rs 43.50 (43.50).

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