Date:01/03/2005 URL: http://www.thehindubusinessline.com/2005/03/01/stories/2005030100242700.htm

Back Spurt in spot rubber rates

Our Correspondent

KOTTAYAM: The last day of February witnessed another spurt in spot rubber prices as covering groups and purchase agents continued to procure the narrow arrivals. The absence of selling from dealers and firm overseas markets added fuel to the positive movement in the main marketing centres. All major grades recorded gains on fresh buying and short covering.

The rubber futures showed a weak trend on Monday. The March contract was traded at Rs 52.95 (Rs 53.09), April contract at Rs 56.10 (Rs 56.36), May at Rs 58.15 (Rs 58.29) and June contract at Rs 59.12 (Rs 59.27) per kg for RSS 4. The volumes were low.

RSS 3 firmed up to Rs 56.60 from Rs 55.86 a kg at Bangkok.

Spot rubber prices a kg were RSS-4: Rs 53.00 (Rs 52.50); RSS-5: Rs 52.00 (Rs 51.00); ungraded: Rs 51.50 (Rs 50.50); ISNR 20: Rs 52.25 (Rs 51.50) and latex 60%: Rs 39.00 (Rs 38.00)