Business Daily from THE HINDU group of publications
Tuesday, Mar 13, 2007
ePaper
Business Daily from THE HINDU group of publications Tuesday, Mar 13, 2007 ePaper |
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Agri-Biz & Commodities
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Rubber Spot rubber prices improve Aravindan
Kottayam March 12 Domestic spot rubber prices improved on Monday. Covering groups and purchase agents took the initiative to lift the prices, observing certain positive signals from the overseas markets. Sheet rubber improved to Rs 87.75 and Rs 88 a kg from Rs 87 and Rs 87.50 respectively at Kottayam and Kochi. The trend was mixed.
Futures down
The rubber futures surrendered the extra gains added during a comparatively speculative session on Saturday. On NMCE, the March contract moved down to Rs 87 (89.08), April to Rs 90.20 (92.59), May to Rs 93.70 (96.61) and June to Rs 97.53 (100.31) per kg for RSS 4. The volumes were 3,198 (2,853) tonnes. The open interest totalled 15,687 (15,678) tonnes with 4234 tonnes in March, 4962 tonnes in April, 5078 tonnes in May and 1413 tonnes in June. The April contract for RSS 4 slipped to Rs 91.15 from Rs 92.82 a kg on MCX. According to sources the market failed to maintain the gains as the energy levels in the international indices were low. The April futures for RSS 3 improved marginally to 258 Yen (Rs 96.30) from 256.2 Yen a kg at TOCOM. Spot prices were (Rs/kg): RSS-4: 87.75 (87); RSS-5: 87 (86); Ungraded: 86 (85); ISNR 20: 86.50 (86.50) and Latex 60 per cent: 62.10 (62.10).
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