Date:18/01/2007 URL: http://www.thehindubusinessline.com/2007/01/18/stories/2007011801201200.htm

Back Spot rubber increases on global cues

Aravindan

Kottayam , Jan. 17

Spot rubber was quoted better on Wednesday. The domestic prices improved depending on a firm closing in overseas markets. A tyre major bought sheet rubber at current levels.

RSS 4 moved up to Rs 96.50 and Rs 97 a kg respectively at Kottayam and Kochi from Rs 96 a kg on Tuesday. The physical market has lost its strength partially as most of the dealers are financially tight since they hold heavy stocks, sources said.

Futures gain

The futures market also improved in tune with TOCOM. On NMCE, the February contract finished the session at Rs 100.66 (Rs 100.33), March at Rs 103.80 (Rs 103.14), April at Rs 107.18 (Rs 106.37) and May at Rs 110.20 (Rs 109.31) a kg for RSS 4. The turnover was 2,442 (4,485) lots and open interest 9,560 (9,304) lots.

The March delivery for the grade closed at Rs 103.50 a kg against Rs 103.18 a kg on MCX.

RSS 3 settled at Rs 92.43 against Rs 92.31 a kg at Bangkok. The February futures for the grade recovered to 256.8 Yen (Rs 94.23) from 252.3 Yen a kg at TOCOM.

Physical prices were (RS/kg): RSS-4: 96.50 (96); RSS-5: 93 (92); ungraded: 87 (86.75); ISNR 20: 89 (89) and latex 60 per cent: 64.20 (64.20).