Financial Daily from THE HINDU group of publications
Saturday, May 14, 2005
Financial Daily from THE HINDU group of publications Saturday, May 14, 2005 |
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Agri-Biz & Commodities
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Rubber Sustained buying keeps rubber firm Our Correspondent
Kottayam , May 13 FOLLOWING sustained buying from covering groups and purchase agents, spot rubber firmed up further on Friday. Enquiries from the non-tyre sector and the northern markets supported the trend and the market opened strong reflecting the widening gap between the demand and supply positions. Arrivals failed to improve even at higher levels since most of the market participants preferred to hold the stock. Sheet rubber improved to Rs 62.50 from Rs 62 a kg on Thursday. The futures market maintained the firm trend quoting the June contract at Rs 63.20 (Rs 63.01); July contract at Rs 63.38 (Rs 63.18); and August contract at Rs 62.10 (Rs 61.88) per kg for RSS 4. The market opened better and the volumes were moderate on fresh buying and short covering. The June futures for RSS 3 moved up to 144.4 yen, against 143 yen at TOCOM. The same grade closed better at Rs 57.75 against Rs 57.31 a kg at Bangkok. Physical rubber prices per kg were: RSS-4 Rs 62.50 (Rs 62); RSS-5 Rs 61 (Rs 60.50); ungraded Rs 60.50 (Rs 60); ISNR 20 Rs 59.50 (Rs 59); and latex 60% Rs 40.50 (Rs 40).
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