Financial Daily from THE HINDU group of publications
Sunday, Mar 26, 2006
Financial Daily from THE HINDU group of publications Sunday, Mar 26, 2006 |
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Agri-Biz & Commodities
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Rubber Spot rubber rises further Our Correspondent
Kottayam , March 25 The domestic spot rubber scaled further highs on Saturday. The covering groups took initiative to lift the prices taking advantage of the low availability of raw material. North Indian buyers and the non-tyre sector were also seen on the buyers side but they kept a low profile. Sheet rubber improved to Rs 83.50 a kg from 82.50 a kg on Friday against Rs 80.00 and Rs 80.25 a kg respectively at Kottayam and Kochi at the previous weekend. According to analysts, the prices are rising in a very unhealthy way amidst low volumes. A section of the growers and traders is holding excess stocks creating an artificial scarcity of rubber in the market.
Futures slip
The rubber futures slipped marginally on NMCE probably on profit booking at higher levels. The April contract closed at Rs 84.83 (Rs 84.85), May contract at Rs 87.49 (Rs 87.66), June contract at Rs 88.41 (Rs 88.75) and July contract at Rs 88.50 (Rs 88.82) per kg for RSS 4. The trading volumes totalled 1617 lots with 256 lots in April, 947 lots in May, 333 lots in June and 81 lots in July. The May Contract for RSS 4 ended at Rs 87.00 against Rs 85.79 a kg on MCX. The transactions were narrow. The spot prices per kg follow: RSS-4: Rs 83.50 (Rs 82.50); RSS-5: Rs 82.50 (Rs 81.50); Ungraded: Rs 81.25 (Rs 80.50); ISNR 20: Rs 82.25 (Rs 81.00) and latex 60 per cent (per litre): Rs 57.00 (Rs 56.50).
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