Financial Daily from THE HINDU group of publications
Thursday, May 19, 2005
Financial Daily from THE HINDU group of publications Thursday, May 19, 2005 |
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Agri-Biz & Commodities
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Rubber Rubber firms up on fresh buying Our Correspondent
Kottayam , May 18 RUBBER prices bounced back on fresh buying and short covering as main marketing centres continued to suffer from the shortage of the produce. Covering groups and purchase agents were chasing the arrivals following reports that certain tyre companies have revised their quotations to current levels. Sheet rubber closed higher at Rs 63.75 against Rs 63.25 a kg on Tuesday. Volumes were not impressive in the absence of quantum sellers. The domestic rubber futures turned better amidst bullish reports from the overseas markets. The June contract was traded at Rs 63.69 (Rs 63.19), July at Rs 63.70 (Rs 63.31), August at Rs 62.22 (Rs 61.78) and September at Rs 60 (Rs 59.75) per kg for RSS 4. RSS 3 improved to Rs 58.15 from Rs 57.77 at Bangkok and 148.5 yen from 146.7 yen at TOCOM. Rubber rates per kg on Wednesday were as follows: RSS-4: Rs 63.75 (Rs 63.25); RSS-5: Rs 62.50 (Rs 61.75); Ungraded: Rs 61.50 (Rs 61.25); ISNR 20: Rs 60.50 (Rs 60.50) and latex 60 per cent at Rs 41.50 (Rs 41.50).
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