Business Daily from THE HINDU group of publications
Thursday, May 24, 2007
ePaper
Business Daily from THE HINDU group of publications Thursday, May 24, 2007 ePaper |
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Agri-Biz & Commodities
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Rubber Spot rubber prices improve Aravindan
Kottayam May 23 Physical rubber prices showed a better trend on Wednesday. According to market circles, there were no sellers in the main marketing centres, as the prices appeared to be in a bullish phase. Incoming monsoon, supply concerns and firm global markets kept the covering groups and speculators rather aggressive during the session. Sheet rubber moved up to Rs 91 and Rs 91.25 a kg from Rs 90.50 and Rs 91 a kg, respectively at Kottayam and Kochi.
Futures firm
The rubber futures were firm except for its far month on NMCE. The last traded price for June was quoted at Rs 92.20 (91.48), July Rs 93.25 (92.60), August Rs 92.66 (92.09) and September contract at Rs 90.01 (90.05) per kg for RSS 4. The volumes were 1,739 (2,010) tonnes. The open interest stood at 7,357 (7,356) tonnes with 3,925 (4,078) tonnes in June, 2,699 (2,568) tonnes in July, 623 (621) tonnes in August and 110 (89) tonnes in September. The June contract for RSS 4 improved to Rs 92.09 a kg from Rs 91.17 a kg on MCX. The June futures for RSS 3 improved to 296.7 yen (Rs 98.90) from 293.5 yen a kg at TOCOM. The grade's spot closed at Rs 98.03 (98.01) a kg at Bangkok. Spot rubber prices were (Rs/kg): RSS-4: 91 (90.50); RSS-5: 90 (89.50); Ungraded: 88.50 (88.25); ISNR 20: 90 (89.25) and Latex 60 per cent: 64.20 (64.20).
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