Date:09/09/2005 URL: http://www.thehindubusinessline.com/2005/09/09/stories/2005090901251200.htm

Back Rubber rules steady

Our Correspondent

Kottayam , Sept. 8

SPOT rubber prices closed steady on Thursday.

As weathermen predicated a better turn in climate towards the weekend, which might consecutively boost production and arrivals, most of the buyers stayed back hesitating to enlarge their commitments. Major manufacturers also kept a low profile as analysts expect a selling spree before Onam.

The market indicator sheet rubber RSS 4 closed steady at Rs 60a kg at Kottayam, while it improved to Rs 60from Rs 59.50 on Wednesday.

The NMCE rubber turned better as the international markets were better on Thursday. The September contract was quoted at Rs 61.40 (Rs 63.42), October at Rs 59.35 (Rs 61.36), November at Rs 58.15 (Rs 60.07) and December at Rs 58.17 (59.94) per kg for RSS 4. The volumes totalled at 2846 lots with 785 lots in September, 1669 lots in October, 191 lots in November and 201 lots in December till mid-session.

The October futures for RSS 3 weakened to 184.3 yen from 186.2 yen a kg at TOCOM. The grade improved marginally to Rs 74.15 from Rs 73.83 a kg at Bangkok.

Physical rubber prices were: RSS-4: 60 (60); RSS-5: 58.50 (58.50); ungraded: 55 (55); ISNR 20: 58.50 (58.50).