Date:19/06/2004 URL: http://www.thehindubusinessline.com/2004/06/19/stories/2004061900711200.htm

Back Bullish trend in rubber market

Our Correspondent

Kottayam , June 18

THE spot rubber market flared up sharply on Friday.

The covering groups and purchase agents blindly chased the narrow arrivals offering the highest closing rate ever recorded in the history of Indian rubber.

All the grades gained in the bullish spree and sheet rubber RSS 4 was quoted at Rs 67 a kg against Rs 65 on Thursday.

The rubber futures followed the physical market trend adding handsome gains to all the contacts. The near month July delivery was quoted at Rs 66.10 (64.45), August delivery at Rs 63.05 (61.23), September delivery at Rs 60.35 (58.72) and October delivery at Rs 59.15 (57.76) per kg for RSS 4. The market opened better and moved up further with improved volumes.

The TOCOM July futures for RSS 3 closed at 158 yen against 154.2 yen a kg on Thursday and the same grade improved by six paise to Rs 61.94 from Rs 61.88 a kg at Bangkok.

The Friday spot market rates per kg were as follows: RSS 4 Rs 67 (65); RSS 5 Rs 62.50 (62); ungraded Rs 62 (61); ISNR 20 Rs 58 (57.50); latex 60 per cent Rs 48 (47.50).