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Thursday, Jun 08, 2006

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Panic sales hit spot rubber


Kottayam , June 7

The morning session witnessed a selling spree in spot market as overseas rubber futures were slightly weak on opening. Later the prices recovered partially as TOCOM and other leading international commodity markets finished in green on renewed buying interest.

RSS 4, which opened steady at Rs 110 a kg declined to Rs 108 a kg on panic offers from dealers but closed at Rs 109 a kg both at Kottayam and Kochi. The remaining grades except INSR 20 also lost ground reflecting the market mood. Meanwhile a tyre major bought sheet rubber up to Rs 110.00 a kg, sources said.

Futures gain

The NMCE rubber futures followed the trend before finally settling in the positive zone. The June contract was traded at Rs 110.02 (Rs 109.11), July at Rs 113.30 (Rs 111.46), August at Rs 110.15 (Rs 108.17) and September at Rs 105.25 (Rs 103.01) per kg for RSS 4.

Spot prices (Rs a kg) were: RSS-4: Rs 109 (Rs 110); RSS-5: Rs 104 (Rs 105); ungraded: Rs 99 (Rs 100); ISNR 20: Rs 101 (Rs 101) and latex 60 per cent: Rs 77.87 (Rs 77.87).

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