Date:24/11/2005 URL: http://www.thehindubusinessline.com/2005/11/24/stories/2005112401230800.htm

Back Rubber steady on lack of buying

Our Correspondent

Kottayam , Nov. 23

SPOT rubber closed almost steady on lack of buying interest on Wednesday. Tyre majors were unwilling to enhance their quotations above Rs 64 and the buyers' resistance kept sheet rubber under pressure throughout the session.

The consuming sectors were reluctant to enlarge their commitments as the prices are expected to soften further. RSS 4 lost 25 paise to Rs 64.50 a kg at Kottayam while the grade closed flat at Rs 64.50 at Kochi.

NMCE rubber futures turned steady and rather inactive as the leading Japanese markets were closed. The December contract was quoted at Rs 65.29 (65.21), January at Rs 65.50 (65.48), February at Rs 66.40 (66.16) and March contract at Rs 66.98 (66.76) per kg for RSS 4.

The January contract for RSS 4 was traded at Rs 65.25 a kg against Rs 65.18 on MCX.

RSS 3 continued to remain unchanged at Rs 72.76 a kg at Bangkok.

Physical prices a kg were: RSS-4 Rs 64.50 (64.75); RSS-5 Rs 62 (62); ungraded: Rs 60 (60); ISNR 20 Rs 63 (63); and latex 60 per cent Rs 43.50 (43.50)