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Friday, May 27, 2005

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Rubber rates rule steady

Our Correspondent

Kottayam , May 26

RUBBER prices were almost steady on Thursday. The market appeared to be stabilising around current levels as buying at lower levels kept the prices firm throughout the session.

Covering groups and north Indian buyers were active as the selling from growers narrowed down indicating a shortage of the raw material.

After touching an intraday low at Rs 63.00 a kg, RSS 4 closed at Rs 63.50 against Rs 63.50 and Rs 63.25 respectively at Kottayam and Kochi.

The rubber futures turned slightly better on Thursday. The June contract was quoted at Rs 63.24 (Rs 62.92), July contract at Rs 63.32. (Rs 63.22) and August contract at Rs 61.55 (Rs 61.64) for RSS 4.

The volumes were very low due to a technical snag at NMCE, sources said.

RSS 3 improved to 153.3 yen from 152.4 yen for its June futures at TOCOM.

The domestic rubber prices per kg were RSS-4: Rs 63.50 (Rs 63.50); RSS-5: Rs 61.50 (Rs 61.50); ungraded: Rs 59.75 (Rs 59.50); ISNR 20: Rs 59.75 (Rs 59.75) and latex 60%: Rs 40.50 (Rs 40.75).

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