Financial Daily from THE HINDU group of publications
Friday, Aug 06, 2004
Financial Daily from THE HINDU group of publications Friday, Aug 06, 2004 |
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Agri-Biz & Commodities
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Rubber Rubber prices rule steady Our Correspondent
Kottayam , Aug. 5 THE physical rubber market ruled almost steady as buyers restricted their purchases to a limited quantity. Scattered enquiries pushed up the prices of ungraded rubber and ISNR 20 by 50 paise, while the other grades were static amidst low arrivals. Weather predictions continued to dominate the market sentiments but major manufacturers were not willing to buy sheet rubber above Rs 58, according to trading circles. Arrivals are thin as rains continue to lash the plantation areas. But buyers restraint has capped any sharp rise in the prices. The rubber futures turned weak except for its August delivery, which was quoted at Rs 62.10 (62.09) a kg on Thursday. The near month September delivery was quoted at Rs 56.70 (57.37), October delivery at Rs 54.58 (56.02) and November delivery at Rs 53.78 (55.24) a kg for RSS 4. At Bangkok RSS 3 improved to Rs 57.57 from Rs 57.46 a kg and the TOCOM September futures for the same grade closed at 140.7 yen against 140.1 yen a kg on Wednesday. The spot market rates per kg on Thursday are as follows: RSS 4 59.00 (59.00); RSS 5 56.50 (56.50); ungraded 55.00 (54.50); ISNR 20 52.50 (52.00); latex 60 per cent 40.00 (40.00).
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