Financial Daily from THE HINDU group of publications
Thursday, May 04, 2006
Financial Daily from THE HINDU group of publications Thursday, May 04, 2006 |
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Agri-Biz & Commodities
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Rubber Steady trend in spot rubber Aravindan
Kottayam , May 3 A steady trend prevailed in spot rubber market on Wednesday. Both buyers and sellers remained rather inactive in the absence of fresh trend-setting factors even amidst low arrivals. The market is looking forward for the re-entry of major manufacturers with revised quotations, sources said. The dry spell is still at its high degrees. Even a 50 per cent decline in production is reported from certain areas, a planter said. As a result, latex improved sharply on extremely low supply. RSS 4 closed flat at Rs 90 a kg at Kottayam and Kochi as on Tuesday. According to reports from Kochi, there were strong buyers for the grade at the quoted level.
FUTURES IMPROVE
The rubber futures improved on NMCE though the leading Japanese markets were on holidays. The May contract was traded at Rs 89.75 (89.54), June Rs 90.98 (90.56), July Rs 90.25 (89.77) and August contract at Rs 89.05 (88.80) per kg for RSS 4. The volumes were quoted 509 tonnes till midday. Spot rates (Rs a kg) were: RSS-4: 90 (90); RSS-5: 89 (89); Ungraded: 88 (88); ISNR 20: 88.50 (88.50); & latex 60% (per litre): 65 (63).
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