Aravindan

Kottayam, July 17 Declines in leading international markets failed to depress the physical rubber rates, while the futures market lost its steam on Tuesday. On the global front, the August futures for RSS 3 fell to 249.6 Yen (Rs 82.68 ) from 254.9 Yen a kg at TOCOM. The grade (spot) slipped to Rs 83.78 from Rs 84.11 a kg at Bangkok.

On the contrary, sheet rubber moved up to Rs 83 from Rs 82 a kg at Kottayam and Kochi driven by short supply. Covering groups lifted the prices expecting renewed quotes from the tyre sector. The volumes were low.

Futures weak

The rubber futures weakened, reducing the gap between global rates accumulated during the previous few sessions. The August contract settled down at Rs 82.76 (83.78) a kg on MCX. On NMCE, the August contract declined to Rs 83.25 (84.61), September contract to Rs 81.95 (83.51), October to Rs 82 (83.57) and November contract to Rs 81.29 (82.87) per kg for RSS 4.

Spot prices were (Rs/kg): RSS-4: 83 (82); RSS-5: 81 (80); ungraded: 79 (78); ISNR 20: 80.50 (79.50) and latex 60 per cent: 58.40 (58.40).

(This article was published in the Business Line print edition dated July 18, 2007)
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