Date:11/08/2007 URL: http://www.thehindubusinessline.com/2007/08/11/stories/2007081151681200.htm

Back Spot rubber steady despite lack of demand

Aravindan

Kottayam, Aug. 10 The physical rubber rates were unchanged on Friday. Though the international markets were weak and there has been no visible increase in domestic demand, the prices maintained a steady pace since the inflow to the main marketing centres was feeble. Sheet rubber RSS 4 closed at Rs 93 a kg both at Kottayam and Kochi as on Thursday. There were no revised quotes from major manufacturers and the transactions were dull.

Futures weak

The rubber futures weakened reacting closely to the overall weakness in global markets but regained the losses partially towards close on short covering. The September contract slipped to Rs 86.75 from Rs 87.22 a kg on MCX. On NMCE, the last traded price for the August contract was quoted at Rs 94.15 (94.39), September at Rs 86.64 (86.95), October at Rs 83.20 (83.75) and November at Rs 81.90 (82.39) per kg for RSS 4.

Physical prices were (Rs/kg): RSS-4: 93 (93); RSS-5: 90 (90); ungraded: 87 (87); ISNR 20: 89.50 (89.50) and latex 60 per cent: 61.05 (61.05).