Financial Daily from THE HINDU group of publications
Thursday, Jan 19, 2006
Financial Daily from THE HINDU group of publications Thursday, Jan 19, 2006 |
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Agri-Biz & Commodities
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Rubber Rubber market in corrective phase Our Correspondent
Kottayam , Jan. 18 THE physical rubber market was in a corrective phase on Wednesday. Buyers' resistance at higher levels kept the prices depressed, while most of the grades, including latex, surrendered the gains partially. RSS 4 declined to Rs 73.25 from Rs 73.50 a kg at Kottayam. But the grade was quoted better by 25 paise at Rs 72.50 a kg at Kochi. Meanwhile, major manufacturers revised their quotations for sheet rubber up to Rs 73.50 a kg, sources said. NMCE rubber showed a better trend though the leading international futures markets ended slightly weak after a strong opening. The February contract was quoted at Rs 75.57 (74.61), March Rs 77.30 (76.45), April Rs 78.60 (78) and May at Rs 79.73 (79.05) per kg for RSS 4. The trading volumes were 1,328 lots with 736 lots in February, 448 in March, 107 in April and 37 lots in May till midday. The February futures for RSS 3 weakened further to 217.7 yen (Rs 83.89) against 218.1 yen a kg at TOCOM. The grade closed flat at Rs 83.25 a kg at Bangkok spot. Spot prices a kg were: RSS-4: 73.25 (73.50); RSS-5: 71.50 (72); ungraded: 70.25 (70.50); ISNR 20: 70.75 (71); and latex 60%: 51.50 (52).
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