Financial Daily from THE HINDU group of publications
Tuesday, Jul 13, 2004
Financial Daily from THE HINDU group of publications Tuesday, Jul 13, 2004 |
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Agri-Biz & Commodities
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Rubber Spot rubber rates static Our Correspondent
Kottayam , July 12 THE spot rubber rates were static on Monday. The market continued to witness acute shortage of the raw material but the strong buyer resistance kept the prices almost steady. The shortage has occurred as the monsoon continues to hamper tapping in the plantations. Major manufacturers kept off and the volumes were also thin. Sheet rubber RSS 4 closed at Rs 67.50 as on the previous trading day. The rubber futures stayed in tune with the physical market quoting the near month August delivery at Rs 64.85 (Rs 64.84), September delivery at Rs 61.43 (Rs 61.50) and October delivery at Rs 59.00 (Rs 59.35) per kg for RSS 4. Meanwhile, hectic short covering propped up the July delivery quotation to Rs 73 from Rs 71.64 a kg on Saturday. At Bangkok, RSS 3 closed at Rs 60.54 against Rs 60.76 a kg. The TOCOM August futures for RSS 3 moved down to 144.5 yen against 147 yen on Friday. The spot market rates per kg on Monday were as follows: RSS 4 67.50 (67.50); RSS 5 65.00 (65.00); ungraded 62.00 (61.75); ISNR 20 59.50 (59.50) and latex 60 per cent 49.50 (49.50).
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