Financial Daily from THE HINDU group of publications
Saturday, May 06, 2006
Financial Daily from THE HINDU group of publications Saturday, May 06, 2006 |
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Agri-Biz & Commodities
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Rubber Spot rubber rules firm Our Correspondent
Kottayam , May 5 The domestic spot rubber prices ruled firm on Friday. Most of the grades were steady as sentiments remained neutral since the trend setting international markets were still on holidays. Sheet rubber closed better at Rs 91 and Rs 91.50 a kg from Rs 90.75 and Rs 91 a kg respectively at Kottayam and Kochi. According to dealers from Kochi, there were no sellers even at higher levels. Meanwhile, latex 60 per cent also explored further highs following supply crunch. Moderate rains reported from certain plantation areas failed to create any immediate effect on the market. Major manufactures stuck on to sidelines.
FUTURES IMPROVE
The rubber futures improved further depending on strong domestic fundamentals. The May contract for RSS 4 was traded at Rs 90.90 (90.47) June contract at Rs 93.07 (92.41), July at Rs 93.10 (92.22) and August contract at Rs 90.82 (90.18) per kg on NMCE. The transactions were quoted at 1,145 tonnes with 330 tonnes in May, 545 tonnes in June, 219 tonnes in July and 51 tonnes in August till mid session. The per kg spot rubber rates are: RSS-4: Rs 91 (90.75); RSS-5: Rs 89.75 (89.75); ungraded: Rs 88.75 (88.75); ISNR 20: Rs 89.25 (89.25) and latex 60% (per ltr): Rs 68 (66).
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