Financial Daily from THE HINDU group of publications
Friday, Feb 07, 2003
Financial Daily from THE HINDU group of publications Friday, Feb 07, 2003 |
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Agri-Biz & Commodities
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Rubber Low arrivals jack up rubber Our Correspondent
KOTTAYAM, Feb. 6 RUBBER prices increased further on Thursday by Re 1 a kg following reports of restricted inflow to the market. But even while the price ruled high, there were reports of actual sale at Rs 43.50 fixed by the tyre companies for their weekly offtake. Brokers and covering agents brought the prices to higher levels creating an artificial atmosphere when the prices moved between a narrow band. ``It could only encourage unhealthy practices to eliminate a few dealers from the market,'' commented spokesman of a major tyre company. Buyers too postponed the dealings on hopes that their requirements could be met when the situation changed. Sheet rubber RSS 4 spurted to Rs 45 a kg on Thursday from Rs 44 on Wednesday and RSS 5 ruled at Rs 43 from Rs 42.50 on the previous day. All the other grades also improved with block rubber ISNR 20 at Rs 43 from Rs 42.50, latex at Rs 32 from Rs 31 and ungraded at Rs 42.50 in place of Rs 42 ruled on Wednesday.
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