Financial Daily from THE HINDU group of publications
Friday, Feb 17, 2006
Financial Daily from THE HINDU group of publications Friday, Feb 17, 2006 |
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Agri-Biz & Commodities
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Rubber Spot rubber in grip of bears Our Correspondent
Kottayam , Feb.16 A BEARISH trend shadowed the spot market on Thursday. The under current appeared extremely weak as most of the buyers such as tyre makers and north Indian manufacturers stayed absolutely inactive expecting the corrective phase to continue. Sheet rubber RSS 4 fell back to Rs 78 and Rs 78.50, respectively at Kottayam and Kochi against Rs 79 a kg on Wednesday. Selling pressure from dealers and growers was felt in the main marketing centres but the volumes were dull. The rubber futures declined on NMCE as all leading international indices ended weak. The March contract was traded at Rs 80.64 (Rs 82.58), April at Rs 82.75 (Rs 84.82), May at Rs 84.75 (Rs 86.96) and June at Rs 86.12 (Rs 89) per kg for RSS 4. The transactions totalled 1,953 lots till midday with 646 lots in March, 373 lots in April, 866 lots in May and 68 lots in June. The April delivery contract for RSS 4 was quoted at Rs 83.10 against Rs 82.45 a kg on MCX. RSS 3 declined to Rs 89.54 from Rs 90.72 a kg at Bangkok spot. The March futures for RSS 3 surrendered Rs 2.63 to 235 yen (Rs 88.41) from 242 yen a kg at TOCOM. Spot prices ar kg were: RSS-4: Rs 78 (Rs 79), RSS-5: Rs 77 (Rs 78), ungraded: Rs 76 (Rs 77), ISNR 20: Rs 77 (Rs 78) and latex 60%: Rs 56 (Rs 56).
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