Financial Daily from THE HINDU group of publications
Thursday, Jan 20, 2005
Financial Daily from THE HINDU group of publications Thursday, Jan 20, 2005 |
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Agri-Biz & Commodities
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Rubber Rubber maintains steady trend Our Correspondent
Kottayam , Jan. 19 THE physical rubber market maintained the steady trend on Wednesday. The strong buyer resistance from major manufacturers failed to create any panic among traders as the overseas reports were rather impressive. The absence of selling pressure from growers helped the prices to sustain at current levels even in the absence of bulk buyers. Covering groups and purchase agents were keeping a low profile waiting for a positive indication from manufacturers. Arrivals to the main marketing centres and village markets were marginal and sheet rubber closed static at Rs 52.50 a kg at Kottayam and Kochi as on Tuesday. The NMCE rubber futures improved following a bull run in TOCOM and other major international markets. The February contract was quoted at Rs 53.90 (Rs 53.57), March contract at Rs 54.96 (Rs 54.72), April contract at Rs 56.95 (Rs 56.70) and May at Rs 58.04 (Rs 57.82) per kg for RSS 4.The volumes were better. The TOCOM February futures for RSS 3 improved to 122.5 yen from 119.1 yen a kg on Tuesday.The domestic spot rubber rates per kg were: RSS-4: 52.50 (52.50); RSS-5: 51.50 (51.50); ungraded: 50.00 (50.00); ISNR 20: 51.50 (51.50) and latex 60 per cent: 40(40).
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