Financial Daily from THE HINDU group of publications
Wednesday, May 10, 2006
Financial Daily from THE HINDU group of publications Wednesday, May 10, 2006 |
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Agri-Biz & Commodities
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Rubber Spot rubber flares up further Aravindan
Kottayam , May 9 Spot rubber prices achieved record gains in a single trading session to attain another record closing on Tuesday. The extreme bullish sentiments were ridden by a sharp up move in the international markets. Sheet rubber RSS 4 settled at Rs 94.50 a kg from Rs 92.00 and Rs 92.50 a kg respectively at Kottayam and Kochi after touching an intraday high at Rs 95.00 a kg at the opening session. Covering groups and speculators kept the market activities on fire offering the highest prices in the season.
Futures gain
The rubber futures posted smart gains on NMCE. The May contract was quoted at Rs 94.20 (Rs 93.31) June contract at Rs 97.09 (Rs 95.97), July at Rs 97.15 (Rs 96.13) and August contract at Rs 94.94 (Rs 94.02) per kg for RSS 4. The trading volumes totalled 2100 tonnes with 171 tonnes in May, 1151 tonnes in June, 580 tonnes in July and 198 tonnes in August till midday. Spot rates (Rs a kg) were: RSS-4: Rs 94.50 (Rs 92); RSS-5: Rs 93 (Rs 91); ungraded: Rs 92 (Rs 90); ISNR 20: Rs 92.75 (Rs 90.50) and latex 60 per cent (per litre): Rs 72 (Rs 70).
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