Business Daily from THE HINDU group of publications
Friday, Jan 19, 2007
ePaper
Business Daily from THE HINDU group of publications Friday, Jan 19, 2007 ePaper |
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Agri-Biz & Commodities
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Rubber Spot rubber steady as market pauses Aravindan
Kottayam , Jan. 18 Physical rubber prices ruled almost steady on Thursday. There was no selling pressure in the market as most of the participants believed that the prices would firm up in the weeks ahead. On the other hand, financial tightness has halted the buying spree in the main marketing centres. Sheet rubber RSS 4 closed 25 paise higher at Rs 96.75 a kg at Kottayam on scattered transactions. The grade declined to Rs 96.50 a kg from Rs 97 a kg at Kochi. Most of the grades including latex finished steady but ungraded rubber rose marginally on comparatively better demand.
Futures weak
Rubber futures weakened though major international markets finished in green. The February contract on NMCE slipped to Rs 100.30 (Rs 100.81), March to Rs 103.12 (Rs 103.75), April to Rs 106.30 (Rs 107.03) and May to Rs 109.41 (Rs 110.03) a kg for RSS 4. The February futures for RSS 4 weakened to Rs 101.16 a kg against Rs 101.65 (234 lots) on MCX.The February futures for RSS 3 finished firm at 259.7 Yen (Rs.94.23) against 256.8 Yen a kg at TOCOM. It improved to Rs 93.36 from Rs 92.43 a kg at Bangkok. Physical prices were (Rs/kg): RSS-4: 96.75 (96.50); RSS-5: 93 (93); ungraded: 87.75 (87); ISNR 20: 89 (89) and latex 60 per cent: 64.20 (64.20).
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