Business Daily from THE HINDU group of publications
Thursday, Jan 25, 2007
ePaper
Business Daily from THE HINDU group of publications Thursday, Jan 25, 2007 ePaper |
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Agri-Biz & Commodities
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Rubber Rubber gains on global trends Aravindan
Sheet rubber finished at Rs 98.50 against Rs 98 a kg both at Kottayam and Kochi. Major manufacturers were buyers in the grade up to Rs 98 a kg, sources said.
Futures weak
The domestic rubber futures ruled weak ignoring the global gains. A temporary ban on futures trading in two essential commodities `urad' and `tur dal' alleging overspeculation shadowed the overall sentiment, said Mr Sajilnath, Geojit Commodities Ltd. A feeling that the grade is overpriced compared to global levels also contributed to the weakness. The February contract on NMCE slipped to Rs 100.70 (Rs 101.31), March contract to Rs 103.60 (Rs 104.28 ), April to Rs 107.61 (Rs 108.32) and May to Rs 111.50 (Rs 112.42 ) per kg for RSS 4. The turnover was 2,656 (4,361) tonnes and open interest 11,300 (10,856) tonnes. The February contract for RSS 4 fell to Rs 101 from Rs 101.98 a kg (252 lots) on MCX. The February futures for RSS 3 firmed up to265.4 yen (Rs 97.14) from 263.4 yen a kg at TOCOM. The grade closed at Rs 97.25 against Rs 94.94 a kg at Bangkok spot. Spot rubber prices were (Rs/kg): RSS-4: 98.50 (98); RSS-5: 94.50 (94); Ungraded: 91 (91); ISNR 20: 91(90) and latex 60%: 65.25 (65.25).
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