Financial Daily from THE HINDU group of publications
Friday, Jul 26, 2002
Financial Daily from THE HINDU group of publications Friday, Jul 26, 2002 |
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Agri-Biz & Commodities
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Rubber Rubber dormant Our Correspondent
KOTTAYAM, July 25 RUBBER prices continued to be stagnant on poor buying support. Tyre and non-tyre groups practically abstained from market while the price trends did not show any indication for strengthening. Market was in a melancholy mood throughout on Thursday. While on one side market experienced selling pressure, there were no buying interests on the other which created an imbalance resulting in more supply and less demand. Unless there is interference to offload the available stocks with dealers, the inflow from the production centres is likely to create a glut. Only meagre transactions were reported with the result even major dealers having low volume business. The purchases of institutions, including the Kerala Rubber Marketing Federation, continued to be slow. Sheet rubber RSS-4 remained stagnant at Rs 37.50 a kg on Thursday, while RSS-5 ruled only at Rs 35 and latex 60 per cent at Rs 30. Ungraded rubber and block rubber ISNR-20 were traded at Rs 33.50 and Rs 34 respectively.
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