Date:20/02/2007 URL: http://www.thehindubusinessline.com/2007/02/20/stories/2007022001791200.htm

Back Spot rubber rules steady

Aravindan

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Kottayam Feb. 19 Physical rubber prices were almost unchanged on Monday. The market appeared to be losing its grip, as the buying from the major manufactures has been insufficient to trigger an uptrend. According to market circles, there were sellers in selected grades.

RSS 4 closed at Rs 96.50 a kg both at Kottayam and Kochi as on Saturday. Ungraded rubber improved further by 50 paise to Rs 92.50 a kg as there were no quantity sellers on the grade sensing the sustained demand from non-tyre sector.

Futures weak

The rubber futures continued to rule weak even against a firm TOCOM closing. The March delivery contract for RSS 4 moved down to Rs 100.25 a kg from Rs 100.50 on MCX.

On NMCE, the March contract for the grade slid to Rs 98.85 (99.70), April to Rs 104.15 (104.95), May to Rs 108.32 (109.27) and June to Rs 111.41 (112.52) a kg since traders preferred to limit their positions observing the stagnation in spot prices. The transactions totalled 2,356 (1,484) lots and open interest 14,550 (14,347) lots.

The March futures for RSS 3 improved by Rs 1.33 to 277.6 Yen (Rs 102.38) from 274 Yen a kg at TOCOM. The grade shed 66 paise to close at Rs 106.37 s kg at Bangkok Spot.

Spot rubber prices were (Rs/kg): RSS-4: 96.50 (96.50); RSS-5: 94.50 (94.50); Ungraded: 92.50 (92); ISNR 20: 92.50 (92.50) and Latex 60 per cent: 65.25 (65.25).