Financial Daily from THE HINDU group of publications
Tuesday, Apr 11, 2006
Financial Daily from THE HINDU group of publications Tuesday, Apr 11, 2006 |
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Agri-Biz & Commodities
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Rubber Spot rubber rates steady Aravindan
Kottayam , April 10 The domestic spot rubber rates were steady on Monday. The market participants seemed to be waiting for a positive trend in the international futures before making any fresh commitments as the prices were ruling at higher levels, sources said. The withdrawal of the lorry strike scheduled to commence from Sunday mid night had accelerated the market activities though the overseas futures were not encouraging. Sheet rubber closed unchanged at Rs 84.00a kg both at Kottayam and Kochi as on Saturday.Latex 60% firmed up on extremely low supply following a sharp decline in production.
FUTURES STEADY
The rubber futures showed an almost steady trend on NMCE. The near month April contract was quoted at Rs 83.80 (Rs 83.67), May Rs 86.25 (Rs 86.04) June Rs 87.84 (Rs 87.72) and July contract Rs 88.00 (Rs 87.73) per kg for RSS 4. The May futures for RSS 3 weakened further to 249.7 yen (Rs 94.61) from 251.1 yen a kg at TOCOM. The grade improved to Rs 96.29 from Rs 95.58 a kg at Bangkok spot. The per kg spot rubber rates were, RSS-4: Rs 84 (Rs 84); RSS-5: Rs 83 (Rs 83); ungraded: Rs 82 (Rs 82); ISNR 20: Rs 83.25 (Rs 83.25) and latex 60% (a litre): Rs 59.50 (Rs 59).
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