Date:03/08/2004 URL: http://www.thehindubusinessline.com/2004/08/03/stories/2004080300841200.htm

Back Sheet rubber up on covering buys

Our Correspondent

Kottayam , Aug. 2

THE spot rubber market was mixed on Monday. Covering purchases at lower levels pushed up the sheet rubber price by 50 paise to Rs 58.50 while latex 60 per cent lost Rs 2.00 in the absence of demand.

The other grades were steady though the market sources indicated a mild buying interest observed in the main marketing centres.

The rubber futures was weak on Monday. The August delivery was quoted at Rs 57.42 (57.92), September delivery at Rs 54.37 (54.73), October delivery at Rs 53.35 (53.82) and November delivery at Rs 53.20 (53.59) per kg for RSS 4.

The market opened better but declined towards mid-session following the weak closing in the international market.

The spot market rates per kg on Monday are as follows: RSS 4 58.50 (58.00), RSS 5 56.00 (56.00), ungraded 54.00 (54.00), ISNR 20 52.00 (52.00) and latex 60% 40.00 (42.00)