Financial Daily from THE HINDU group of publications
Friday, May 19, 2006
Financial Daily from THE HINDU group of publications Friday, May 19, 2006 |
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Agri-Biz & Commodities
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Rubber Rubber market buoyant Aravindan
Kottayam , May 18 The rubber market was buoyant on Thursday. But there were no quantity buyers or sellers in the main marketing centres though the sentiments were projected as extremely bullish. Firm Bangkok prices tempted the traders to hold the stocks to encash the ongoing bull run. While major manufacturers limited their offers up to Rs 95.25 a kg for RSS 4, the grade shot up to Rs 97 a kg from Rs 96 and Rs 95.50 a kg respectively at Kottayam and Kochi.
Futures gain
The rubber futures moved up quoting the June contract at Rs 99.70 (Rs 98.82), July at Rs 99.71 (Rs 98.93), August at Rs 97.87 (Rs 96.75) and September at Rs 96.65 (Rs 95.57) per kg for RSS 4 on NMCE. The July contract hit the Rs 100-mark in the opening session but profit booking pruned the gains slightly later. The volumes till noon were1,885 tonnes with 733 tonnes in June,739 tonnes in July, 274 tonnes in August and 139 tonnes in September. RSS 3 flared up to Rs 113.04 from Rs 111.15 a kg at Bangkok spot. The June futures for RSS 3 closed at 276.1 yen (Rs 113.10) against 275.4 yen a kg at TOCOM. The spot prices per kg were: RSS-4: Rs 97 (Rs 96); RSS-5: Rs 95.50 (Rs 94); Ungraded: Rs 93 (Rs 92.50); ISNR 20: Rs 94 (Rs 93); and Latex 60 per cent (per litre): Rs 72 (Rs 71).
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