Financial Daily from THE HINDU group of publications
Thursday, Apr 20, 2006
Financial Daily from THE HINDU group of publications Thursday, Apr 20, 2006 |
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Agri-Biz & Commodities
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Rubber Rubber prices rule firm Aravindan
Kottayam , April 19 Domestic spot rubber prices were steady on Wednesday. Sustained demand from the covering groups and purchase agents kept the under current firm though the summer rains were forecast to continue for a few days more. Moderate enquires from the tyre sector instilled confidence to the covering groups to maintain the prices at higher levels. Sheet rubber closed unchanged at Rs 87 a kg both at Kottayam and Kochi as on Tuesday. Meanwhile, a decline in north Indian volumes depressed un-graded rubber by 50 paise though there has not been any increase in selling pressure on the grade. An almost steady closing in Japanese futures kept the sentiments neutral while fundamentals were reported to be stable in the global scene. The rubber futures stayed in tune with the trend registering only minor variations on NMCE. The May contract was traded at Rs 87.59 (Rs 87.46) June at Rs 89 (Rs 89.06), July at Rs 89.28 (Rs 89.14) and August at Rs 88.87 (Rs 89.89) per kg for RSS 4. The May futures for RSS 3 closed at 247.3 yen (Rs 95.32) against 246.9 yen a kg at TOCOM. Spot rates (Rs a kg) were: RSS-4: Rs 87 (Rs 87); RSS-5 Rs 86 (Rs 86); ungraded Rs 84.50 (Rs 85); ISNR 20 Rs 85(Rs 85); and latex 60% (per ltr): Rs 61 (Rs 61).
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