Financial Daily from THE HINDU group of publications
Tuesday, May 09, 2006
Financial Daily from THE HINDU group of publications Tuesday, May 09, 2006 |
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Agri-Biz & Commodities
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Rubber Steady trend in spot rubber Aravindan
Kottayam , May 8 The week opened with a steady trend in spot rubber prices. The sentiments turned neutral as most the leading overseas indices were not very encouraging. Sheet rubber RSS 4 closed unchanged at Rs 92.00 and Rs 92.50 a kgr espectively at Kottayam and Kochi as on Saturday. The covering groups and purchase agents stayed hesitant to give higher quotes in the absence of a positive signal from the tyre sector. Meanwhile, there were reports of moderate overnight rains from the plantation areas in Kanjirappally, Ponkunnam, Mundakkayam, Erattupetta etc. The change in weather is expected to favour production to certain extent.
Futures better
The rubber futures showed a better trend possibly based on Yen to Rupee conversion factors though the Japanese markets finished weak. The May contract for RSS 4 was traded at Rs 92.79 (Rs 92.21) June contract at Rs 95.54 (Rs 94.59), July at Rs 95.30 (Rs 94.79) and August contract at Rs 93.35 (Rs 92.49) per kg on NMCE. The June contract for the grade improved to Rs 94.50 from Rs 93.00 a kg at MCX. The NMCE volumes totalled 1057 tonnes with 151 tonnes in May, 620 tonnes in June, 156 tonnes in July and 140 tonnes in August till mid session. Spot rates (Rs a kg) were: RSS-4: Rs 92 (Rs 92.00); RSS-5: Rs 91 (Rs 90.75); ungraded: Rs 90 (Rs 90); ISNR 20: Rs 90.50 (Rs 90.50) and latex 60 per cent (per litre): Rs 70 (Rs 70).
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