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Tuesday, Jan 18, 2005

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Rubber market rules steady

Our Correspondent

Kottayam , Jan. 17

THE spot rubber market was steady on Monday. The only exception was sheet rubber which lost 25 paise to close at Rs 52.50 against Rs 52.75 a kg.

Traders were waiting for a green signal from the overseas markets, while the absence of active participation from major manufacturers continued to keep the market activities at low levels.

The purchases from small industries and other sectors failed to enhance the prices as they were in low volumes. The Kochi market closed steady at Rs 52.50 a kg for RSS 4 on Saturday.

The NMCE futures was visibly weak even after an almost steady closing at TOCOM. The February contract was quoted at Rs 53.78 (54.20), March contract at Rs 54.98 (55.34) and April contract at Rs 56.90 (57.28) per kg for RSS 4. The volumes were normal.

At Bangkok, RSS 3 closed at Rs 51.08 against Rs 51.02 a kg while the TOCOM February futures for the same grade managed to stay at 118.6 yen against 118.7 yen a kg on Friday.

The physical rubber rates per kg were: RSS-4: 52.50 (52.75), RSS-5: 51.50 (51.50), ungraded: 50.00 (50.00), ISNR 20: 51.50 (51.50) and latex 60%: 40.00 (40.00).

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