Financial Daily from THE HINDU group of publications
Saturday, May 21, 2005
Financial Daily from THE HINDU group of publications Saturday, May 21, 2005 |
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Agri-Biz & Commodities
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Rubber Rubber down on profit-booking Our Correspondent
Kottayam , May 20 SPOT rubber prices were quoted slightly lower on profit booking emerged at higher levels. Sheet rubber closed at Rs 64.50 after touching an intra-day low at Rs 64 against Rs 64.75 a kg both at Kottayam and Kochi. Most of the buyers including covering groups preferred to keep a low profile as the market took a beating after hitting the much-anticipated target at Rs 65.00 on Thursday. Major manufactures were also cautious expecting a selling pressure from the producing sector and stockists. The NMCE futures turned steady in a rather dull trading session as reports from the world markets were almost neutral. The June contract was quoted at Rs 64.15 ( Rs 64.08), July at Rs 64.15 ( Rs 64.08), August at Rs 61.90 (Rs 61.82) and September at Rs 59.54 (Rs 59.53) per kg for RSS 4. The June futures for RSS 3 closed at 149.9 Yen against 149.5 Yen at TOCOM. The rubber prices per kg on Friday follow: RSS-4: Rs 64.50 (Rs 64.75); RSS-5: Rs 63 (Rs 63); ungraded: Rs 61.25 (Rs 61.50); ISNR 20: Rs 61.00 (Rs 61.25); and latex 60%: Rs 42.00 (Rs 42.00).
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