Business Daily from THE HINDU group of publications
Sunday, Jul 23, 2006
Business Daily from THE HINDU group of publications Sunday, Jul 23, 2006 |
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Agri-Biz & Commodities
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Rubber Spot rubber declines further Aravindan
Kottayam , July 22
Physical rubber prices declined further on Saturday. Major grades lost, as there were no quantity buyers to absorb the nervous selling from dealers and growers. RSS 4 concluded at Rs 94 a kg against Rs 95 and Rs 94.50 respectively at Kottayam and Kochi. Rumours on lower targets like Rs 75 per kg for sheet rubber seemed to be influencing the sellers to book heavy losses even in a weak weekend session.
Futures weak
The NMCE rubber futures declined further on fresh selling from traders who expect a negative opening on Monday. The August delivery closed at Rs 93.40 (Rs 94.74), September at Rs 90.13 (Rs 91.45), October at Rs 88 (Rs 89.40) and November at Rs 86.81 (Rs 87.87) per kg for RSS 4.
Spot prices (Rs a kg) were: RSS-4: Rs 94 (Rs 95); RSS-5: Rs 92.50 (Rs 93); ungraded: Rs 91 (Rs 91); ISNR 20: Rs 92.50 (Rs 93.50) and latex 60 per cent: Rs 77.90 (Rs 77.90).
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