Financial Daily from THE HINDU group of publications
Tuesday, May 17, 2005
Financial Daily from THE HINDU group of publications Tuesday, May 17, 2005 |
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Agri-Biz & Commodities
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Rubber Rubber flares up on thin arrivals Our Correspondent
Kottayam , May 16 SPOT rubber prices flared up further on Monday, supported by the covering groups and purchase agents amidst low arrivals. According to reports, most of the dealers and growers are still holding the stocks with a target of Rs 65 a kg for sheet rubber. All-round buying interest and absence of quantum sellers kept major grades firm though the trading volumes were low. RSS 4 improved to Rs 63.50 from Rs 63 a kg on Saturday. The NMCE futures showed a mixed trend on Monday. The June contract was traded at Rs 63.41 (Rs 63.38), July at Rs 63.50 (Rs 63.40) and August at Rs 61.95 (Rs 62.07) per kg for RSS 4. The undercurrent appeared weak as traders turned cautious at higher levels in a volatile market. The domestic rubber rates a kg on Monday were: RSS-4: Rs 63.50 (Rs 63); RSS-5: Rs 62 (Rs 61.75); Ungraded: Rs 61.50 (Rs 61); ISNR 20: Rs 60.50 (Rs 60) and latex 60 per cent: Rs 41.50 (Rs 41).
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