Financial Daily from THE HINDU group of publications
Saturday, Aug 17, 2002
Financial Daily from THE HINDU group of publications Saturday, Aug 17, 2002 |
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Agri-Biz & Commodities
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Rubber Rubber up on hectic buying Our Correspondent
KOTTAYAM, Aug. 16 RUBBER prices shot up suddenly on buying spree on Friday. The market, which remained inactive for the last two days, jumped up touching Rs 38 a kg for RSS 4 due to the unexpected response. The buyers were making covering purchases for major tyre groups. Non-tyre groups also strengthened their activities and that put the prices of all major grades at higher levels. International price also spurted to Rs 41.60 on Friday registering a moderate increase. ``The present change in the domestic market is primarily due to non-stop rains during the last two days,'' said a tyre major. ``The temporary phase in the price movement mostly depended on weather conditions,'' commented dealers. Sheet rubber RSS 4 was traded at Rs 38 a kg from Rs 36.50 on Wednesday. RSS 5 spurted to Rs 34.50 from Rs 33.50 and ungraded rubber to Rs 34 from Rs 33.50. ISNR 20 remained static at Rs 34.00 while latex 60 per cent dipped to Rs 28 from Rs 29.50.
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