Financial Daily from THE HINDU group of publications
Thursday, Apr 06, 2006
Financial Daily from THE HINDU group of publications Thursday, Apr 06, 2006 |
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Agri-Biz & Commodities
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Rubber Rubber slips on weak demand Aravindan
Kottayam , April 5 Spot rubber declined on weak demand on Wednesday. The market saw improved supplies following a sharp decline in international futures and the prices surrendered as they could not sustain at higher levels. Covering groups were comparatively inactive along with other consuming industries from the general rubber goods sector and north Indian sector. Most of the market players were hesitant to enlarge their commitments as tyre sector kept on the sidelines against expectations. Sheet rubber RSS 4 declined to Rs 83.50 and Rs 83.75 a kg, respectively, at Kottayam and Kochi from Rs 84.25 a kg on Tuesday.
Futures lose
The NMCE rubber futures stayed in tune global indices registering moderate losses in all contracts. The April contract was traded at Rs 83.74 (Rs 83.90), May at Rs 85.79 (Rs 86.34) June at Rs 87.35 (Rs 87.78) and July at Rs 87.68 (Rs 87.94) a kg for RSS 4. The April futures for RSS 3 declined sharply to 246.3 yen (Rs 94.13) against 252.8 yen a kg at TOCOM. RSS3 moved up further to Rs 96.76 from Rs 96.26 a kg at Bangkok spot. Spot rates (Rs a kg) were: RSS-4 Rs 83.50 (Rs 84.25); RSS-5 Rs 82.50 (Rs 83.25); ungraded Rs 81.50 (Rs 82.25); ISNR 20 Rs 82.75 (Rs 83) and latex 60% (a litre) Rs 58 (Rs 58).
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