Business Daily from THE HINDU group of publications
Wednesday, Jan 24, 2007
ePaper
Business Daily from THE HINDU group of publications Wednesday, Jan 24, 2007 ePaper |
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Agri-Biz & Commodities
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Rubber Ungraded rubber gains on buying Aravindan
The market is keeping a low pace mainly in the absence of enquires from the tyre sector and they are not willing to enhance their quotes, sources said. RSS 4 closed unchanged at Rs 98 a kg at Kottayam, while it improved by 50 paise to the same rate at Kochi.
Futures weak
The rubber futures opened better and remained in green during the morning session but declined in the later half on profit booking. The February contract on NMCE weakened to Rs 101.30 (Rs 101.82), March contract to Rs 104.40 (Rs 104.91), April to Rs 108.20 (Rs 108.89) and May to Rs 112.30 (Rs 112.67) per kg for RSS 4. The volumes totalled 4,361 (3,239) tonnes and open interest 10,856 (10,549) tonnes. The February contract for the grade slipped to Rs 101.90 from Rs 102.82 a kg (159 lots) on MCX. RSS 3 flared up at its February futures to 263.4 Yen (Rs 95.81) a kg from 256.4 Yen at TOCOM. But the grade declined to Rs 94.94 against Rs 96.90 a kg at Bangkok spot. Spot prices were (Rs/kg): RSS-4: 98 (98); RSS-5: 94 (94); ungraded: 91 (89.50); ISNR 20: 90 (90) and latex 60 per cent: 65.25 (65.25).
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