Date:30/11/2006 URL: http://www.thehindubusinessline.com/2006/11/30/stories/2006113004071200.htm

Back Spot rubber stays steady

Aravindan

Kottayam , Nov. 29

A steady closing was observed in physical rubber on Wednesday. Though the global rates were slightly bullish, the domestic market failed to imbibe the enthusiasm due to so many fundamental reasons. They include the upcoming peak production season, import news from the tyre sector and the dried up exports due to price imbalance.

Sheet rubber closed steady at Rs 77.50 a kg both at Kottayam and Kochi as on Tuesday.

Futures improve

In futures, RSS 4 improved quoting the near month December contract at Rs 78.30 (Rs 75.94) a kg trading 353 (412) lots on MCX.

On NMCE, the December contract moved up to Rs 78.77 (Rs 77.10), January to Rs 78.12 (Rs 76.11), February to Rs 80.01 (Rs 77.41) and March to Rs 81.00 (Rs 78.46) a kg for RSS 4. Spot prices per kg were: RSS-4: Rs 77.50 (Rs 77.50); RSS-5: Rs 75.50 (Rs 75.50); Ungraded: Rs 72.50 (Rs 72.50); ISNR 20: Rs 75 (Rs 75) and latex 60 per cent: Rs 49.45 (Rs 49.45).