Financial Daily from THE HINDU group of publications
Tuesday, May 31, 2005
Financial Daily from THE HINDU group of publications Tuesday, May 31, 2005 |
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Agri-Biz & Commodities
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Rubber Rubber prices continue to remain stagnant Our Correspondent
Kottayam , May 30 SPOT rubber prices continued to remain stagnant as major market participants stayed inactive on Monday. Covering groups and purchase agents were not interested to give higher quotes waiting for the prices to stabilise at lower levels. As the weather predictions favour firm price movements since mid-June, growers also preferred to hold the stock restricting the availability of rubber in the open market. RSS 4 closed steady at Rs 63.50 a kg at Kottayam, but eased marginally to Rs 63.25 at Kochi from Rs 63.50 on Saturday. The futures market appeared firm except September, which lost considerably even amidst low trading volumes. The June contract was quoted at Rs 63.65 (Rs 63.58), July at Rs 64.05 (Rs 63.84) August at Rs 62.03 (Rs 61.90) and September contract at Rs 59.80 (Rs 61.80) a kg for RSS 4. The spot rubber prices per kg follow: RSS-4: Rs 63.50 (Rs 63.50); RSS-5: Rs 61.50 (Rs 61.50); ungraded: Rs 59.50 (Rs 59.50); ISNR 20: Rs 59.75 (Rs 59.75) and latex 60 per cent: Rs 40.50 (Rs 40.50).
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