Business Daily from THE HINDU group of publications
Saturday, Sep 22, 2007
ePaper
Business Daily from THE HINDU group of publications Saturday, Sep 22, 2007 ePaper |
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Agri-Biz & Commodities
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Rubber Spot rubber weakens on global trend Aravindan Kottayam, Sept. 21 Physical rubber ruled weak on Friday. RSS 4 moved down to Rs 89 from Rs 89.50 a kg at Kottayam amidst scattered transactions. The trend was set by a bearish closing in major international commodity exchanges. Meanwhile, sheet rubber finished steady at Rs 89.50 a kg at Kochi on late buying ridden by a firm closing in domestic futures. The volumes were thin. Futures betterThe rubber futures turned better against the declines in the domestic and international markets. According to market circles, the prices firmed up mainly on supply concerns. On NMCE, the near month October contract improved to Rs 88.21 (87.77), November to Rs 86.09 (85.29), December to Rs 86.01 (85.40) and January to Rs 86.50 (85.72) per kg for RSS 4. The volumes declined to 1,438 (1,624) lots, while the open interest moved up to 3,652 (3,579) lots. The October contract concluded at Rs 87.70 from Rs 87.20 a kg on MCX. The outstanding position in October was recorded at 2,077 (2,135) lots, November at 907 (879) lots, December at 538 (465) lots, and January at 130 (100) lots on NMCE. The October futures for RSS 3 declined further to 251.3 Yen (Rs 87.17) from 253.8 Yen a kg at TOCOM. The grade weakened by 65 paise to 86.92 a kg at Bangkok. Spot prices were (Rs/kg): RSS-4: 89 (89.50); RSS-5: 87 (87); ungraded: 84 (84.50); ISNR 20: 86 (86) and latex 60 per cent: 60.50 (60.50). More Stories on : Rubber
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