Financial Daily from THE HINDU group of publications
Wednesday, Mar 16, 2005
Agri-Biz & Commodities
Rubber rates increase on aggressive buys
Kottayam , March 16
rubberSPOT rubber prices firmed up on Tuesday.
Certain tyre companies were buying sheet rubber at Rs 53.50 a kg amidst low arrivals.
But the covering groups seemed to be more aggressive offering better quotes to procure the raw material in the absence of quantum sellers.
All the grades recorded moderate gains while RSS 4 improved to Rs 53.75 from Rs 53.50 a kg at Kottayam and Rs 54 a kg from Rs 53.75 at Kochi.
The futures market was marginally firm as the overseas reports were positive.
The April contract was traded at Rs 56.50 (Rs 56.47), May at Rs 58.50 (Rs 58.43) and June at Rs 59.85 (Rs 59.80) a kg for RSS 4.
The transactions were narrow. Prices were up on limited supply besides the hot and dry weather that reduces tapping of latex.
The April futures for RSS 3 moved up to 137.8 yen from 135.7 yen at TOCOM.
At Bangkok, the same grade closed at Rs 57.34 a kg as on Monday.
Physical rubber prices a kg were: RSS-4 Rs 53.75 (Rs 53.50); RSS-5: Rs 52.75 (Rs 52.25);;ungraded: Rs 52.50 (Rs 52); ISNR 20: Rs 53 (Rs 52.50); and latex 60%: Rs 39.50 (Rs 39)
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