Financial Daily from THE HINDU group of publications
Tuesday, Dec 28, 2004
Financial Daily from THE HINDU group of publications Tuesday, Dec 28, 2004 |
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Agri-Biz & Commodities
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Rubber Smart rally in rubber prices Our Correspondent
Kottayam , Dec. 27 THE first trading day after Christmas witnessed a smart rally in spot rubber prices. Buyers from all sectors were present in the main marketing centres to procure the meagre arrivals. Sellers were comfortable on the sidelines as the demand and supply imbalance accelerated the rise, adding gains to all major grades. Sheet rubber RSS 4 closed better at Rs 54 a kg against Rs 53.25 on Friday. The NMCE rubber futures showed a bullish trend as the reports from the world markets were positive. January delivery was quoted at Rs 55.10 (54.56), February delivery at Rs 56.30 (55.70), March delivery at Rs 57.35(56.77) and April delivery at Rs 58.40 (57.78) for RSS 4. The market opened better and volumes were also good on fresh buying and short covering.
Spot market rates a kg were RSS 4 54 (53.25); RSS 5 52 (50.50); ungraded 50 (49.50); ISNR 20 51.50 (50.75); and latex 60% 41. (40.50).
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