Business Daily from THE HINDU group of publications
Friday, Jun 16, 2006
Business Daily from THE HINDU group of publications Friday, Jun 16, 2006 |
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Agri-Biz & Commodities
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Rubber Spot rubber remains low Aravindan
Kottayam , June 15 The domestic spot rubber prices continued to remain depressed on Thursday. Declines in major overseas indices and the absence of strong consumer supported the mood but the market was not panic as seen on Wednesday. RSS 4 fell to Rs 104.00 and Rs 104.25 a kg respectively at Kottayam and Kochi from Rs 105.00 a kg on buyer resistance. Covering groups were active at lower levels but kept narrow volumes. The trend setting TOCOM hit the lower circuits in all its distant contracts on heavy long liquidation incurring maximum one-day losses for two days in a raw.
Futures improve
Surprisingly, the rubber futures improved on NMCE followed by fresh buying and short covering. The June delivery contact was quoted at Rs 104.00 (Rs 104.30), July contract at Rs 105.21 (Rs 104.47), August contract at Rs 105.02 (Rs 103.53) and September contract at Rs 102.50 (Rs 100.58) per kg for RSS 4. Spot prices (Rs a kg) were: RSS-4: Rs 104 (Rs 105.00); RSS-5: Rs 100 (Rs 102); ungraded: Rs 95 (Rs 96); ISNR 20: Rs 98 (Rs 98) and latex 60 per cent: Rs 77.87 (Rs 77.87).
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