Financial Daily from THE HINDU group of publications
Saturday, Jan 17, 2004
Financial Daily from THE HINDU group of publications Saturday, Jan 17, 2004 |
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Agri-Biz & Commodities
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Rubber Rubber stabilises on marginal buys Our Correspondent
Kottayam , Jan. 16 AFTER a steep fall, rubber rates stabilised on Friday. Scattered buying from the covering group helped the market to sustain at the existing levels. Ungraded rubber was the only gainer of the day and it improved by 25 paise to close at Rs 48 against Rs 47.75 on Thursday. Sellers appeared more cautious but major manufacturers kept off as usual. Sheet rubber RSS 4 remained static at Rs 50.25 a kg. RSS 3 weakened to Rs 56.14 from Rs 56.20 at Bangkok. The February features at TOCOM for RSS 3 was better at Rs 56.96 a kg against Rs 56.70 on Thursday. The futures market showed a positive trend on Friday. The near-month February delivery was quoted at Rs 51.31 (51.07), March delivery at Rs 53.40 (52.55), April delivery at Rs 55.50 (55.08), May delivery at Rs 57.40 (57.26) and June delivery at Rs 59.50 (59.25) per kg for RSS 4. The volumes were moderate. The Wednesday spot market rates per kg were as follows: RSS 4 Rs 50.25 (50.25); RSS 5 Rs 49.50 (49.50); ungraded Rs 48 (47.75); ISNR 20 Rs 50 (50); latex 60 per cent Rs 40 (40).
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