Financial Daily from THE HINDU group of publications
Wednesday, May 17, 2006
Financial Daily from THE HINDU group of publications Wednesday, May 17, 2006 |
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Agri-Biz & Commodities
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Rubber Moderate losses in spot rubber Aravindan
Kottayam , May 16 Another slide in prices was observed in domestic spot rubber market on Tuesday. RSS 4 declined to Rs 95 from Rs 95.50 a kg both at Kottayam and Kochi. The market suffered moderate losses in all grades including latex on buyer resistance. According to sources, the prices fell in the absence of any selling pressure from growers or dealers. The players seemed to be nervous and hesitant to make fresh commitments at higher levels. The sentiments were partially driven by a decline in global futures.
Futures weak
The NMCE rubber futures lost amidst profit booking and speculative selling from traders. The near month June contract was quoted at Rs 96.50 (Rs 97.12), July at Rs 96.60 (Rs 97.21) and August at Rs 94.82 (Rs 95.38) and September contract at Rs 93.75 (Rs 95) per kg for RSS 4. The transactions were recorded at 1,738 tonnes with 742 tonnes in June, 716 tonnes in July, 240 tonnes in August and 40 tonnes in September till mid-session. The June futures for RSS 3 declined to267.7 yen (Rs 110.71) from 270.6 yen a kg at TOCOM. The grade flared up to Rs 108.29 from Rs 104.72 a kg at Bangkok spot. The spot prices a kg were: RSS-4: Rs 95 (Rs 95.50); RSS-5: Rs 93 (Rs 93.50); Ungraded: Rs 92 (Rs 92.50); ISNR 20: Rs 92.25 (Rs 92.75) and Latex 60 per cent (per litre): Rs 70 (Rs 71).
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