Business Daily from THE HINDU group of publications
Tuesday, Aug 29, 2006
Business Daily from THE HINDU group of publications Tuesday, Aug 29, 2006 |
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Agri-Biz & Commodities
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Rubber Mixed trend in spot rubber Aravindan
Kottayam , Aug. 28 Spot rubber witnessed a mixed trend on Monday. Buyers continued to remain hesitant to offer better quotes for RSS 4 since the arrivals were expected to improve soon, sources said. The major manufactures were also keeping narrow volumes limiting their procurement to lower price levels. Sheet rubber weakened further to Rs 89 from Rs 89.50 a kg at Kottayam. The grade was steady at Rs 89.50 a kg at Kochi.
Futures weak
The rubber futures turned weak on NMCE, as the reports from most of the international markets were dull. The September contract was quoted at Rs 88.85 (Rs 89.69), October contract at Rs 86.24 (Rs 86.69), November contract at Rs 86 (Rs 86.29) and December contract at Rs 86.16 (Rs 86.43) per kg for RSS 4. The trading volumes stood at 518 tonnes with 407 tonnes in August, 96 tonnes in September, 6 tonnes in October and 9 tonnes in December till mid session. RSS 3 declined to Rs 98.52 from Rs 99.82 a kg at Bangkok spot. The September futures for the grade closed at 243.5 yen (Rs 96.93) against 243 yen a kg at TOCOM. Prices (Rs a kg) were: RSS-4: Rs 89 (Rs 89.50); RSS-5: Rs 87 (Rs 87.50); ungraded: Rs 84 (Rs 84); ISNR 20: Rs 87 (Rs 87) and latex 60 per cent: Rs 72.09 (Rs 71.56).
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