Financial Daily from THE HINDU group of publications
Saturday, Apr 08, 2006
Financial Daily from THE HINDU group of publications Saturday, Apr 08, 2006 |
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Agri-Biz & Commodities
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Rubber Spot rubber moves up Aravindan
Kottayam , April 7 Spot rubber market moved up further on Friday. Moderate demand from covering groups, purchase agents and other consuming sectors kept the prices firm amidst weak supply. RSS 4 improved to Rs 84 a kg from Rs 83.75 at Kottayam. The grade was steady at Rs 84 a kg at Kochi. Certain tyre companies bought sheet rubber up to Rs 84 a kg but the enquiries from the North Indian sector seemed to be narrow.
FUTURES WEAKEN
The rubber futures weakened on NMCE as the overseas reports were not encouraging. The April delivery contract was quoted at Rs 83.56 (Rs 83.78), May at Rs 86 (Rs 86.30) June at Rs 87.45 (Rs 87.59) and July at Rs 87.50 (Rs 87.82) per kg for RSS 4. RSS 3 declined to Rs 95.58 from Rs 96.76 a kg at Bangkok spot. The May futures for the grade weakened to 251.1 yen (Rs 95.32) from 251.7 yen a kg at TOCOM. Spot prices (Rs a kg) were: RSS-4: Rs 84 (Rs 83.75), RSS-5: Rs 83 (Rs 82.50), ungraded: Rs 82 (Rs 81.50), ISNR 20: Rs 83.25 (Rs 82.75) and latex 60% (per litre): Rs 59 (Rs 58).
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