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Friday, Feb 04, 2005

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Rubber firm on covering buys

Our Correspondent

Kottayam , Feb. 3

COVERING at lower levels kept the rubber prices firm on Thursday.

Quantity selling and slightly improved sentiments assisted most of the grades to recover from the initial losses towards mid-session.

RSS 4 gained marginally to Rs 52.25 from Rs 52 at Kottayam and to Rs 52 from Rs 51.75 a kg at Kochi.

The rubber futures turned steady mirroring an unchanged TOCOM and other leading international markets. The February contract was traded at Rs 51.60 (Rs 51.63), March contract at Rs 52.85 (Rs 52.69), April contract at Rs 56 (Rs 56) and May contract at Rs 57.10 (Rs 57.10) per kg for RSS 4. Volumes were low.

At TOCOM, the March futures for RSS 3 was steady at 133 yen a kg. At Bangkok, the same grade closed at Rs 53.79 against Rs 53.39 a kg on Wednesday

The spot rubber rates (per kg) on Thursday were:

RSS-4: Rs 52.25 (Rs 52); RSS-5: Rs 50.75 (Rs 50.50); Ungraded: Rs 50 (Rs 49.50); ISNR 20: Rs 51 (Rs 51); and Latex 60 per cent: Rs 39.50 (Rs 39.50).

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