Business Daily from THE HINDU group of publications
Wednesday, May 23, 2007
ePaper
Business Daily from THE HINDU group of publications Wednesday, May 23, 2007 ePaper |
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Agri-Biz & Commodities
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Rubber Spot rubber stays firm Aravindan
Kottayam May 22 Spot rubber closed almost steady on Tuesday. RSS 4 was quoted flat at Rs 90.50 and Rs 91 a kg, respectively at Kottayam and Kochi in a session ended with extremely dull volumes. According to reports, a leading tyre company was buyer for the grade up to Rs 91 a kg but it kept a low profile.
Futures decline
The domestic rubber futures fell in to a corrective phase, as TOCOM lost steam trimming part of its early gains towards close. The global trend-setter opened higher in the wake of gains in gold and oil futures but profit booking and bear selling brought the prices under pressure later. On National Multi Commodity Exchange, the June contract weakened to Rs 91.75 (91.94), July Rs 92.50 (93.89), August Rs 92.25 (93.47) and September to Rs 90 (91.29) per kg for RSS 4. The June contract moved down to Rs 90.90 a kg from Rs 91.87 on MCX. The open interest was 7,356 (7,309) lots with 4,078 (4,124) lots in June, 2,568 (2,464) in July, 621 (632) in August and 89 (89) lots in September on NMCE. The volumes totalled 2,010 (1,938) tonnes. RSS 3 (spot) slipped marginally by 5 paise to Rs 98.01 (98.06) a kg at Bangkok. The June futures for the grade closed at 293.5 yen (Rs 98.31) against 291.8 yen a kg at TOCOM. Spot rubber prices were (Rs/kg): RSS-4: 90.50 (90.50); RSS-5: 89.50 (89.50); Ungraded: 88.25 (88.50); ISNR 20: 89.25 (89) and Latex 60 per cent: 64.20 (64.20).
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