Date:04/06/2005 URL: http://www.thehindubusinessline.com/2005/06/04/stories/2005060400871000.htm

Back Rubber prices in narrow range

Our Correspondent

Kottayam , June 3

SPOT rubber prices continued to move in a narrow range as major operators maintained a wait and watch policy.

The trading volumes were dull again in the absence of quantum buyers and sellers while the market fluctuated marginally on scattered transactions. Sheet rubber closed slightly better at Rs 63.50 against Rs 63.25 a kg at Kottayam on covering purchases and flat at Rs 63.50 at Kochi. ISNR 20 and latex continued to remain sluggish on low demand.

According to observers the market is expected to regain strength once the monsoon hits the State around mid-June as per weather predictions.

The rubber futures was almost steady quoting the June contract at Rs 63.70 (Rs 63.71), July at Rs 64.41 (Rs 63.38) and August at Rs 62.10 (Rs 62.24) per kg for RSS 4.The volumes were moderate in July but dull in the remaining contracts.

At TOCOM, the July futures for RSS 3 improved further to 155 Yen from 153.6 Yen. The grade closed better at Rs 61.85 against Rs 61.31 a kg at Bangkok.

The physical rubber prices per kg is as follows: RSS-4: Rs 63.50 (Rs 63.25); RSS-5: Rs 61.50 (Rs 61.50); ungraded Rs 59.50 (Rs 59.00); ISNR 20: Rs 59.00 (Rs 59.25); and latex 60 per cent: Rs 40.00 (Rs 40.25)