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Wednesday, Aug 31, 2005

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Spot rubber prices move up further

Our Correspondent

Kottayam , Aug 30

SPOT rubber moved up further on Tuesday. Moderate buying from the tyre sector and other major consuming sectors kept market firm throughout the session.

Sheet rubber RSS 4 improved to Rs 57.50 from Rs 57 a kg at Kottayam but closed steady at Rs 57.00 a kg at Kochi. Meanwhile, ISNR 20 turned extremely bullish on export enquiries but latex 60% and RSS 5 closed unchanged in the absence of fresh demand.

The rubber futures turned weak as the major overseas futures markets were in a bearish mode.

The September contract was quoted at Rs 58.60 (Rs 59.71), October at Rs 57.26 (Rs 58.63), November at Rs 56.75 (Rs 57.89) and December at Rs 56.98 (Rs 58.48) a kg for RSS 4.

The volumes were almost steady at 1,892 lots; trading 1,065 lots in September, 599 lots in October, 94 lots in November and 134 lots in December till mid session.

At TOCOM, the September futures for RSS 3 declined to 171.1 yen from 175.5 yen a kg while the grade improved to Rs 69.22 from Rs 68.16 a kg at Bangkok.

The spot rubber rates per kg were: RSS-4: Rs 57.50 (Rs 57.00); RSS-5: Rs 54.50 (Rs 54.50); ungraded: Rs 53 (Rs 52); ISNR 20: Rs 54 (Rs 53) and latex 60%: Rs 38.50 (Rs 38.50).

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