Business Daily from THE HINDU group of publications
Thursday, Jan 04, 2007
ePaper
Business Daily from THE HINDU group of publications Thursday, Jan 04, 2007 ePaper |
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Agri-Biz & Commodities
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Rubber Rubber rises despite profit booking Aravindan
Kottayam , Jan. 3 Spot rubber finished firm despite profit booking at higher levels on sheet rubber. The grade closed steady at Rs 98 a kg at Kottayam after hitting Rs 99.50 a kg in the morning session. It finished better by 50 paise at Rs 98.50 a kg at Kochi. According to sources major manufacturers were buyers up to Rs 98.50 a kg on RSS 4. Enquiries from the non-tyre sector also helped the market to record all-round gains, they said.
Futures weak
The rubber futures turned weak on NMCE. Traders seemed to be booking profits prior to the reopening of trend setting Japanese markets after the long New Year holidays. The last traded price for the January contract was quoted at Rs 99.35 (Rs 100.78), February at Rs 101.95 (Rs 104.03), March at Rs 104.35 (Rs 107.09) and April at Rs 108.05 (Rs 110.55) per kg for RSS 4. The total volumes were 5,415 (5,481) lots and open interest 8,884 (7,651) lots.The January contract for RSS 4 declined to Rs 100.59 a kg against Rs 102.38 a kg (717 lots) on MCX. On the international front, RSS 3 improved to Rs 89.28 from Rs 87.70 a kg at Bangkok. Spot prices were (Rs/kg): RSS-4: 98 (98); RSS-5: 93.50 (92); ungraded: 92 (91); ISNR 20: 93.50 (93) and latex 60 per cent: 67.35 (67.35).
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