Date:26/04/2007 URL: http://www.thehindubusinessline.com/2007/04/26/stories/2007042602091100.htm

Back Bearish global prices peg sheet rubber lower

Aravindan

Kottayam April 25 Physical rubber prices witnessed a mixed trend on Wednesday. Global rubber prices were bearish and hence, sheet rubber closed slightly down at Rs 86.50 against Rs 86.75 and Rs 87 a kg respectively at Kottayam and Kochi. Ungraded rubber also lost marginally by 25 paise, while the other major grades and latex finished steady with dull volumes.

Futures weak

The rubber futures were visibly weak in leading commodity exchanges. The May contract declined to Rs 87.70 from Rs 88.80 a kg on MCX.

On NMCE, the near month May contract moved down to Rs 86.81 (87.84), June to Rs 90.10 (90.89), July contract to Rs 92.20 (93.05) and August to Rs 92 (92.68) per kg for RSS 4.

RSS 3 spot slipped further to Rs 96.34 from Rs 97.09 a kg at Bangkok. The grade declined at its May futures to 264.1 yen (Rs 91.52) from 271.9 Yen a kg at TOCOM.

Spot prices were (Rs/kg): RSS-4: 86.50 (86.75); RSS-5: 85.50 (85.50); ungraded: 84.50 (84.75); ISNR 20: 85.25 (85.25) and latex 60 per cent: 63.65 (63.65).