Date:24/11/2007 URL: http://www.thehindubusinessline.com/2007/11/24/stories/2007112450981200.htm

Back Dull trading in spot rubber

Aravindan

Kottayam, Nov. 23 The domestic rubber market was rather inactive in the absence of global guidance as TOCOM remained closed owing to ‘Labour Thanksgiving Day’ on Friday. RSS 3 (spot) closed slightly higher at Rs 96.23 against Rs 96.14 a kg at Bangkok.

In the physical front, sheet rubber RSS 4 slipped by 50 paise to Rs 93.50 a kg at Kottayam while the garde was steady at the same quote at Kochi. The volumes were dull.

Futures firm

In futures, the December contract concluded the session on NMCE at Rs 94.55 (94.37), January at Rs 96.53 (96.33), February at Rs 97.75 (97.76) and March at Rs 99.50 (99.25) per kg for RSS 4. The volumes were down at 1,003 (1,739) lots. The last traded price for the December contract was Rs 94 (94.06) a kg on MCX. The open interest was 4,616 (4,456) tonnes with 1,511 (1,543) tonnes in December, 1,706 (1,632) tonnes in January, 1,164 (1,097) tonnes in February and 235 (184) tonnes in March on NMCE.

Spot prices were (Rs/kg): RSS-4: 93.50 (94); RSS-5: 90.50 (90.50); ungraded: 84.50 (84); ISNR 20: 90 (90) and latex 60 per cent: 63 (63).