Business Daily from THE HINDU group of publications
Thursday, Jun 15, 2006
Business Daily from THE HINDU group of publications Thursday, Jun 15, 2006 |
|
|
|
|
|
|
|
Agri-Biz & Commodities
-
Rubber Sharp fall in spot rubber Aravindan
Kottayam , June 14 Spot rubber nose-dives on Wednesday. Hectic losses in the overseas markets triggered yet another panic selling from dealers and growers. According to sources the Tokyo rubber futures tumbled down on heavy long liquidation following a steep fall in gold and oil products futures. Sheet rubber RSS 4 declined to Rs 105 a kg from Rs 110 a kg at Kottayam and Kochi. Major manufacturers kept off waiting for the prices to stabilise at lower levels. The market appeared technically weak also since it failed to break the Rs 110 level consecutively for the third time in a raw.
Futures weak
The rubber futures fell further on NMCE. The July contract was quoted at Rs 104 (Rs 107.90), August contract at Rs 103.00 (Rs 106.05) and September contract at Rs 99.90 (Rs 102.23) per kg for RSS 4. The delivery month June stayed inactive as on Tuesday. The market recovered from the initial losses probably on short covering and fresh buying just above Rs 100.00 levels.Spot prices (Rs a kg) were: RSS-4: Rs 105 (Rs 110); RSS-5: Rs 102.00 (Rs 105); ungraded: Rs 96 (Rs 99); ISNR 20: Rs 98 (Rs 100) and latex 60 per cent: Rs 77.87 (Rs 77.87).
More Stories on : Rubber
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2006, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|