Financial Daily from THE HINDU group of publications
Sunday, Sep 04, 2005
Financial Daily from THE HINDU group of publications Sunday, Sep 04, 2005 |
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Agri-Biz & Commodities
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Rubber Rubber market improves further Our Correspondent
Kottayam , Sept. 3 RUBBER prices improved further on Saturday. The covering groups and purchase agents turned active since the world markets ended in a positive note on Friday. While major manufacturers and other leading consuming sectors continued to procure the raw material, the presence of exporters strengthened ISNR 20 by 50 paise. Latex 60 per cent closed steady in the absence of fresh demand. Sheet rubber RSS 4 improved to Rs 58.50 from Rs 58.00 a kg at Kottayam and Kochi on fresh buying and short covering. Rubber futures turned weak with the September contract quoting at Rs 60.23 (60.54), October at Rs 59.32 (59.66), November at Rs 58.38 (58.84) and December contract at Rs 58.74 (59.03) a kg for RSS 4. The volumes totalled at 1784 lots; trading567 lots in September, 902 lots in October,146 lots in November and169 lots in December. The market opened better but declined later on profit booking at higher levels. The average trade price was quoted at Rs 60.41 against Rs 60.50 a kg on Friday. Domestic rates a kg were: RSS-4:Rs 58.50(58); RSS-5:Rs 55 (54.50); ungraded:Rs 53.50(53); ISNR 20: Rs 54.50(54); and latex 60%: Rs 38.50(38.50)
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