Date:01/11/2005 URL: http://www.thehindubusinessline.com/2005/11/01/stories/2005110101071200.htm

Back Covering groups keep spot rubber steady

Our Correspondent

Kottayam , Oct. 31

THE domestic rubber market moved up further as most of the sellers sidelined the market on Monday.

Covering groups lifted the prices offering better quotes, while the transactions were extremely dull due to short supply. NMCE November contract was quoted at Rs 67.48 (67.55), December Rs 64.75 (64.77), January at Rs 64.90 (64.93) and February at Rs 64.93 (65) per kg for RSS 4.

The volumes totalled at 1,416 lots with 1,023 lots in November, 253 in December, 104 in January and 36 lots in February. The November contract for RSS 4 closed at Rs 66.90 against Rs 67.34 a kg in MCX.

The November futures for RSS 3 declined to 186.1 yen from 190 yen at TOCOM.

Spot rates Rs a kg were: RSS-4: 66.50 (66); RSS-5: 64 (63.50); ungraded: 61.50 (61.50); ISNR 20: 64.50 (63.25); and latex 60%: 44 (43).