Date:25/10/2005 URL: http://www.thehindubusinessline.com/2005/10/25/stories/2005102501531200.htm

Back Rubber prices begin to pick up

Our Correspondent

Kottayam , Oct. 24

SPOT rubber prices improved as sellers preferred to keep a low profile on Monday. Short supply due to heavy overnight rains and strengthening overseas markets helped the market to reverse the trend after the steep decline in the previous weeks.

Covering groups seemed to be active expecting a short-term uptrend in the domestic scene. Sheet rubber RSS 4 improved to Rs 65 and Rs 65.50, respectively at Kottayam and Kochi from Rs 64.50 a kg on Saturday.

The NMCE rubber futures improved further quoting the November delivery contract at Rs 65.38 (64.13), December Rs 64.16 (63.14), January Rs 64.25 (63.63) and February contract at Rs 64.50 (63.90) per kg for RSS 4.

The volumes totalled at 1,045 lots trading 703 lots in November, 227 in December, 62 in January and 53 lots in February till mid session. The November contract for RSS 4 closed at Rs 65.30 against Rs 64.15 a kg in MCX.

The November futures for RSS 3 improved sharply to 197.1 yen from 193.4 yen at TOCOM.

The rates per kg are as follows: RSS-4: 65 (64.50); RSS-5: 63 (62); Ungraded: 60.50 (59.50); ISNR 20: 62.75 (62.50); & and Latex 60%: 42.50 (42.50).