Financial Daily from THE HINDU group of publications
Wednesday, Apr 19, 2006
Financial Daily from THE HINDU group of publications Wednesday, Apr 19, 2006 |
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Agri-Biz & Commodities
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Rubber Spot rubber tops Rs 87/kg Our Bureau
Kottayam , April 18 Spot rubber resumed its uptrend on Tuesday. The market was responding positively to the re-entry of certain major manufacturers and they were reported to be active on sheet rubber at prevailing levels. The buyers from the general rubber goods sector were also seen in the queue to procure the raw materiel. The sharp rice in ungraded rubber was attributed to the enquiries from the North Indian sector. Sheet rubber improved to Rs 87 in Kottayam and Kochi from Rs 86.50 and Rs 86.25 a kg respectively on Monday. There were no quantity sellers on any grade and the gap between the demand and supply positions widened further, indicating the possibility of a strong trend ahead.
FUTURES SLIP
Though a weak closing in Japanese futures failed to depress spot rubber, the domestic rubber futures slipped on the National Multi Commodity Exchange (NMCE). The May contract was traded at Rs 87.38 (87.77) June contract at Rs 89 (89.48), July at Rs 89.17 (89.61) and August contract at Rs 88.75 (89.38) per kg for RSS 4. RSS 3 firmed up to Rs 97.76 from Rs 96.94 a kg at Bangkok spot. The May futures for RSS 3 declined to 246.9 yen (Rs 94.55) from 251.1 yen a kg at TOCOM. Spot rates (Rs a kg) were: RSS-4: 87 (86.50); RSS-5: 86 (85.50); ungraded: 85 (84); ISNR 20: 85 (85); and latex 60% (a litre): 61 (60.50).
More Stories on : Rubber
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