Financial Daily from THE HINDU group of publications
Friday, Oct 01, 2004
Financial Daily from THE HINDU group of publications Friday, Oct 01, 2004 |
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Agri-Biz & Commodities
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Rubber Rubber rates depressed on selling pressure Our Correspondent
Kottayam , Sept.30 MILD selling pressure from growers and traders depressed spot rubber prices on Thursday. The covering groups and purchase agents were not so interested to buy at the prevailing levels and sheet rubber RSS 4 moved down to Rs 51.25 from Rs 51.50 a kg on Wednesday. While the remaining grades weakened, latex 60 per cent and ungraded were steady on short supply. Following a couple of sunny days after heavy rains, chances are bright for an improvement in arrivals, traders said. The NMCE futures continued to rule weak quoting the October delivery at Rs 53 (53.24) on Thursday. The November delivery was quoted at Rs 53.39 (53.52), December delivery at Rs 53.65 (53.68) and January delivery at Rs 54.70 (54.78) per kg for RSS 4. The volumes were good. At TOCOM, the October futures for RSS 3 closed at 140.5 yen against 140.8 yen a kg on Wednesday. The same grade was steady at Rs 57.72 a kg at Bangkok. The spot market rates per kg on Thursday follow: RSS 4 Rs 51.25 (51.50); RSS 5 Rs 50 (50.25); ungraded Rs 48.50 (49); ISNR 20 Rs 51 (51); latex 60 per cent Rs 40 (40).
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