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Thursday, Jun 05, 2003

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Rubber quiet on low enquiries

Our Correspondent


rubberACTIVITIES in the rubber market were mainly confined to trading in ungraded rubber.

Demand for the rubber was moderate, but owing to selling pressure from small growers, price fell slightly. All other grades remained static. Since the South-West monsoon is round the corner, growers are not making any quantum offers. They expect the monsoon to set in by the weekend when production would be disrupted by the torrential rains.

Major buyers did not show interest in the market hoping that imported rubber would arrive soon and the domestic market would fall.

Meanwhile, the international market was buoyant for RSS 3 on Wednesday at Rs 48.93 in Bangkok against Rs 48.82 on Tuesday.

The futures market, on the other hand, made gains obviously on account of the possible monsoon effect. June delivery was quoted at Rs 51.25 per kg, July delivery at Rs 51.64 and August delivery at Rs 51.51 for RSS 4.

The per kg spot market rates were as follows on Wednesday. RSS 4 Rs 49.75 (Rs 49.75), RSS 5 Rs 48.50 (Rs 48.50), ungraded rubber Rs 48 (Rs 48.25), ISNR 20 Rs 48.25 (Rs 48.25) and latex concentrate Rs 38 (Rs 38).

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