Date:07/06/2007 URL: http://www.thehindubusinessline.com/2007/06/07/stories/2007060700971200.htm

Back Spot rubber prices improve

Aravindan

Kottayam June 6 Spot rubber rates improved on Wednesday. The market firmed up mainly on covering purchases at lower levels. Sellers withdrew while covering groups turned active above Rs 85 level, which offered a short-term technical support to the market. RSS 4 improved by 25 paise to Rs 85.75 a kg at Kottayam but the grade continued to rule flat at Rs 85.50 a kg at Kochi. The major consuming sectors were inactive and the volumes low.

Futures steady

The rubber futures finished almost steady quoting the June contract for RSS 4 at Rs 85.79 (85.76) a kg on MCX. The June contract for the grade was quoted at Rs 86.70 (86.76), July at Rs 88.23 (88.44), August at Rs 88.40 (88.44) and September contract at Rs 86.40 (86.28) per kg on NMCE. The undercurrent was weak. The July futures for RSS 3 declined to 283.6 Yen (Rs 94.67) from 285.5 Yen a kg at TOCOM. The grade (spot) fell to Rs 95.72 from Rs 96.15 a kg at Bangkok.

Spot prices were (Rs/kg): RSS-4: 85.75 (85.50); RSS-5: 84.25 (84); ungraded: 83 (82.50); ISNR 20: 84 (83.75) and latex 60 per cent: 61.05 (61.05).