Date:04/11/2005 URL: http://www.thehindubusinessline.com/2005/11/04/stories/2005110401451000.htm

Back Rubber prices move up further

Our Correspondent

Kottayam , Nov. 3

THE domestic rubber market scaled further highs on Thursday.

Covering groups turned extremely aggressive and the prices rose sharply on their highly speculative offers in all grades.

The transactions were practically nil as growers and dealers preferred to hold the stock expecting sheet rubber to move above Rs 70 shortly.

The domestic supply was also hit hardly by overnight rains all over the plantations during the past few weeks.

The market indicator RSS 4 closed at Rs 69 against Rs 68 a kg at Kottayam and Kochi.

According to market sources, no transactions were reported above Rs 67 for sheet rubber as there were no sellers for the grade in the main marketing centres. The futures markets remained closed on Thursday.

Physical rates per kg were: RSS-4: Rs 69 (Rs 68); RSS-5: Rs 66 (Rs 65); ungraded: Rs 63.50 (Rs 62.50); ISNR 20: Rs 65.50 (Rs 64.75) and latex 60%: Rs 46 (Rs 45).