Kottayam, Aug. 24

Buyer resistance kept spot rubber subdued on Thursday. The prices declined as buyers rewrote the quotations to lower levels as weather turned more favourable for production. An increase in arrivals is also expected during the Onam week, dealers said.

RSS 4 weakened to Rs 91 and Rs 91.50 a kg, respectively at Kottayam and Kochi from Rs 92 a kg on Wednesday. Most of the grades still lost amidst weak supply but certain major manufactures were active in the market procuring the raw material at lower levels.

Futures better

The rubber futures showed a better mood as trend setting Japanese markets finished in the positive zone. The September contract was traded at Rs 90.70 (Rs 90.28), October Rs 87.55 (Rs 87.08), November Rs 87.22 (Rs 87.63) and December at Rs 87.25 (Rs 86.54) per kg for RSS 4 on NMCE.

The volumes till noon stood weak at 292 tonnes with 212 tonnes in August, 38 tonnes in September, 6 tonnes in October and 36 tonnes in December.

RSS 3closed unchanged at Rs 99.82 a kg at Bangkok spot. The September futures for the grade improved to 246 yen (Rs 98.17) from 242.9 yen a kg at TOCOM.

Spot rubber rates per kg were: RSS-4: Rs 91 (Rs 92); RSS-5: Rs 88.50 (Rs 89); Ungraded: Rs 85.50 (Rs 86); ISNR 20: Rs 89 (Rs 89.50); and Latex 60 per cent: Rs 72.61 (Rs 72.61).

(This article was published in the Business Line print edition dated August 25, 2006)
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