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Friday, May 13, 2005

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Spot rubber prices up on active buying

Our Correspondent

Kottayam , May 12

SPOT rubber prices bounced back on Thursday. RSS 4 improved to Rs 62 from Rs 61.50 a kg at Kottayam and Kochi.

Covering groups and purchase agents turned aggressive once again fearing short supply as most of the sellers preferred to maintain low volumes.

Certain tyre companies were also reported to be active in the market procuring the raw material at current levels.

The NMCE rubber futures continued its bullish trend ignoring the weak international markets possibly reacting to news on low stocks.

The May contract was traded at Rs 62 (61.63), June Rs 62.80 (62.41), July Rs 63 (62.65) and August contract at Rs 61.75 (61.49) per kg for RSS 4.

RSS 3 was steady at Rs 57.31a kg at Bangkok but weak at 143 yen against 143.3 yen for its June futures at TOCOM.

The spot market rates per kg were: RSS-4: 62 (61.50); RSS-5: 60.50 (60); ungraded: 60 (59.50); ISNR 20: 59 (59); and latex 60%: 40 (40).

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