Business Daily from THE HINDU group of publications
Saturday, Aug 12, 2006
Business Daily from THE HINDU group of publications Saturday, Aug 12, 2006 |
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Agri-Biz & Commodities
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Rubber Rubber recovers on short supply Aravindan
Kottayam , Aug. 11 The uptrend in spot rubber continued, fuelled by short supply. An all-round decline in international markets mainly on TOCOM following news on aborted terrorist attempts failed to make any visible impact in the domestic physical market. Sheet rubber closed at Rs 94 a kg against Rs 93.50 on covering purchases. Though the market recorded gains in all grades except latex, buyer resistance seemed to be putting pressure at higher levels, as the reports from abroad were unfavourable.
Futures decline
The rubber futures declined on NMCE in tune with TOCOM. The August contract was traded at Rs 95.60 (Rs 97.17), September at Rs 90.45 (Rs 92.41), October at Rs 88.35 (Rs 89.91) and November contract at Rs 88.25 (Rs 88.61) a kg for RSS 4. The trading volumes stood at 1,330 tonnes till mid session. Spot prices (Rs a kg) were: RSS-4: Rs 94 (Rs 93.50); RSS-5: Rs 91.50 (Rs 91); ungraded: Rs 88.50 (Rs 88.00); ISNR 20: Rs 91 (Rs 90.50) and Latex 60 per cent: Rs 73.67 (Rs 73.67).
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