Date:13/08/2004 URL: http://www.thehindubusinessline.com/2004/08/13/stories/2004081301221200.htm

Back Rubber prices stabilise on buying at lower levels

Our Correspondent

Kottayam , Aug. 12

AFTER reacting sharply to the Government's decision to lift the port restriction, spot rubber prices were reported to be stabilising on scattered buying interest at lower levels.

The markets activities were still in a low key amidst narrow arrivals while sheet rubber RSS 4 closed at Rs 55.50, against Rs 56.00 on Wednesday. ISNR 20 and latex were steady but inactive as the other grades lost following brisk trading on Thursday.

The futures market weakened further on selling from traders anticipating further fall in prices. The August delivery was quoted at Rs 53.99 (Rs 54.00); September delivery at Rs 53.00 (Rs 53.31); October delivery at Rs 52.30 (Rs 52.50); and November delivery at Rs 52.25 (Rs 52.43) per kg for RSS 4. The volumes were low.

The TOCOM September futures for RSS 3 declined to 141.3 yen from 142.6 yen a kg on Wednesday.

The Thursday spot market rates per kg were: RSS 4 Rs 55.50 (Rs 56.00); RSS 5 Rs 53.00 (Rs 54.50); Ungraded Rs 50.50 (Rs 51.50); ISNR 20 Rs 51.00 (Rs 51.00); and latex 60% Rs 39.00 (Rs 39.00).