Financial Daily from THE HINDU group of publications
Thursday, Mar 02, 2006
Financial Daily from THE HINDU group of publications Thursday, Mar 02, 2006 |
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Agri-Biz & Commodities
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Rubber Rubber remains steady Our Bureau
Kottayam , March 1 The spot rubber prices continued to rule steady on Wednesday. The market activities were in a dull pace, as major manufacturers remained totally inactive against expectations. Though the covering groups and purchase agents were buyers in selected grades, they kept an extremely low profile, as the trend appeared neutral even amidst low arrivals. Sheet rubber closed flat at Rs 81 a kg at both at Kottayam and Kochi.
Futures decline
The rubber futures moved down on NMCE following a weak closing in Japanese markets. The March contract was quoted at Rs 81.90 (Rs 82.36), April at Rs 84.45 (Rs 84.73), May at Rs 86.90 (Rs 87.32) and June contract at Rs 88.49 (Rs 88.75) per kg for RSS 4. According to market circles, the TOCOM effect appeared to be influencing the domestic mood than any other factor. Trading volumes totalled 1,089 lots recording 206 lots in March, 306 lots in April, 439 lots in May and 138 lots in June till midday. The March futures for RSS 4 declined to Rs 82 from Rs 82.23 a kg on MCX; the April futures for RSS 3 slipped to 248.5 yen from 249.7 yen a kg at Tocom. The grade improved to Rs 94.24 from Rs 94.02 a kg at Bangkok Spot. The physical rubber prices per kg were: RSS-4 Rs 81 (Rs 81); RSS-5 Rs 80 (Rs 80); Ungraded Rs 79 (Rs 79); ISNR 20 Rs 80 (Rs 80); and Latex 60% (per litre) Rs 58 (Rs 58).
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