Financial Daily from THE HINDU group of publications
Tuesday, May 13, 2003
Financial Daily from THE HINDU group of publications Tuesday, May 13, 2003 |
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Agri-Biz & Commodities
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Rubber Rubber prices up on good demand Our Correspondent
KOTTAYAM, May 12 THE rubber market improved further on fairly good demand and restricted supply. The covering group was visibly busy making enquiries about quantum supplies and quoting better rate than the previous day's close. The impact made by the Supreme Court's verdict striking down the order banning duty-free import of rubber appears to have been discounted by the market. Though the tyre sector has not apparently entered the market, the covering group is obviously making bids on their behalf. Futures market also made improvements in quotations. The rates quoted were as follows: June delivery - Rs.49.75 per kg; July delivery - Rs.49.50 per kg; and August delivery - Rs. 48.90 per kg. In the spot market sheet rubber RSS 4 firmed up to Rs 47.50 on Monday from Rs 47 on Saturday. Both RSS 5 and ISNR 20 improved to Rs 46 from Rs 45.50, as also ungraded rubber to Rs 45.50 from Rs 44.75. Latex market remained flat at Rs 37.50 per kg.
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