Financial Daily from THE HINDU group of publications
Wednesday, Nov 17, 2004
Financial Daily from THE HINDU group of publications Wednesday, Nov 17, 2004 |
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Agri-Biz & Commodities
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Rubber Rubber softens on moderate sales Our Correspondent
Kottayam , Nov. 16 MODERATE selling from traders softened the sheet rubber price on Tuesday. Though the covering groups and purchase agents were active, they kept the quotes low expecting enhanced arrivals in a weakening market. The remaining major grades were steady on nominal demand from different sectors but the activities were not so impressive. RSS 4, the sheet rubber closed at Rs 52.50 against Rs 52.75 on Saturday. The rubber futures turned weak on Tuesday. The near month December delivery was quoted at Rs 54.28 (Rs 54.42), January delivery at Rs 55.60 (Rs 55.66) and February delivery at Rs 56.51 (Rs 56.61) per kg for RSS 4. The market opened much lower but recovered partially towards mid-session. Mean while the November contracts expired at Rs 53.28 a kg on Monday. The TOCOM December futures for RSS 3 closed at 133.1 yen against 133 yen a kg while the same grade declined to Rs 56.55 from Rs 56.83 at Bangkok. The Tuesday spot market rates per kg were as follows: RSS 4 Rs 52.50 (Rs 52.75), RSS 5 Rs 51.50 (Rs 51.50), ungraded Rs 49.00 (Rs 49.00), ISNR 20 Rs 52.00 (Rs 52.00), latex 60% Rs 39.50 (Rs 39.50).
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