Financial Daily from THE HINDU group of publications
Wednesday, Jun 29, 2005
Agri-Biz & Commodities
Rubber prices steady amid dull arrivals
Kottayam , June 28
RUBBER prices remained steady on Tuesday. Scattered buying and selling in select grades were not enough to make any remarkable changes in prices, while arrivals at the main marketing centres were also dull.
Moreover, the monsoon has not impacted production as expected. Sheet rubber closed steady at Rs 60.25 as on Monday.
As domestic RSS 4 is quoted below the equivalent international grade RSS 3 at Bangkok by almost Rs 5.25 a kg, the scope for exports has increased considerably.
According to sources, the market is waiting for healthy support from exporters.
Rubber futures turned weak as most traders preferred to book profits to play safe in a rather choppy market.
The July contract for RSS 4 was quoted at Rs 60.20 (Rs 60.45) per kg, August contract at Rs 60.29 (Rs 60.66), September contract at Rs 58.15 (Rs 58.54) and October contract at Rs 57.70 (Rs 56.77) per kg.
A total of 544 lots were traded till mid-session while June and July futures topped in volumes with 263 lots each.
At Bangkok, RSS 3 improved further to Rs 65.40 from Rs 64.66 a kg.
The July futures for the grade closed at 170.1 yen, against 168.6 yen a kg at TOCOM.
The prices per kg on Tuesday were: RSS-4 Rs 60.25 (Rs 60.25); RSS-5 Rs 57.75 (Rs 57.75); Ungraded Rs 56 (Rs 56); ISNR 20 Rs 55.50 (Rs 55.50); and Latex 60% Rs 38.50 (Rs 38.50).
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