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Friday, Sep 02, 2005

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Steady trend in rubber prices

Our Correspondent

Kottayam , Sept. 1

SPOT rubber prices maintained a steady trend on Thursday. Sellers preferred to keep a low profile as scattered overnight rains at the fag end of the south-west monsoon and positive reports from the international markets boosted their sentiments to a great extent.

Moderate purchase orders from the major consuming sectors gave further support to the market mood. Sheet rubber RSS-4 closed steady at Rs 57.50 a kg at Kottayam, while it improved to Rs 58 at Kochi from Rs 57.50 on Wednesday.

The rubber futures showed a weak trend since most of the traders turned cautious on the widely fluctuating overseas markets. The September delivery contract was quoted at Rs 58.85 (Rs 59.37), October at Rs 57.95 (Rs 58.26), November at Rs 57.18 (Rs 57.62) and December at Rs 57.50 (Rs 57.95) per kg for RSS-4. RSS-3 improved to Rs 70.35 from Rs 69.85 a kg at Bangkok. The October futures for the same grade closed at 179.8 yen against 177.8 yen a kg at TOCOM.

Spot rates a kg were: RSS-4: Rs 57.50 (Rs 57.50), RSS-5: Rs 54.50 (Rs 54.50), ungraded: Rs 53 (Rs 53.00), ISNR 20: Rs 54 (Rs 54), and latex 60%: Rs 38.50 (Rs 38.50).

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