Business Daily from THE HINDU group of publications
Tuesday, Mar 27, 2007
ePaper
Business Daily from THE HINDU group of publications Tuesday, Mar 27, 2007 ePaper |
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Agri-Biz & Commodities
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Rubber Rubber turns weak on lack of follow-up buying Aravindan
Kottayam March 26 Spot rubber turned weak on Monday. The market lost its steam in the absence of follow-up buying from major consuming industries. Covering groups and purchase agents mostly sidelined the market waiting for a favourable move from the tyre sector. The market also has some pressure as the financial year closes shortly, sources said. Sheet rubber declined to Rs 93.50 and Rs 93.75 from Rs 94 and Rs 94.50 a kg, respectively at Kottayam and Kochi. The volumes were low.
Futures firm
The rubber futures maintained the firm trend on the National Multi-Commodity Exchange. The near month April contract finished the session at Rs 93.65 (93.51), May Rs 97.65 (97.22), June Rs 100.74 (100.27) and July at 102.74 (102.35) a kg for RSS 4. The volumes totalled 2,796 (2,495) tonnes. The open interest was 12,506 (12,454) tonnes with 4,797 tonnes in April, 5,296 tonnes in May, 1,993 tonnes in June and 420 tonnes in July. The April contract for RSS 4 was quoted at Rs 94.40 against Rs 94.61 a kg on MCX. The April futures for RSS 3 improved to 271 yen (Rs 99.63) from 268.1 yen a kg at TOCOM. The grade closed at Rs 100.12 against Rs 100.07 a kg at Bangkok. Spot rubber prices were (Rs/kg): RSS-4: 93.50 (94); RSS-5: 92.50 (93); Ungraded: 91.50 (92); ISNR 20: 92 (92.50) and Latex 60 per cent: 64.20 (64.20).
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