Date:03/06/2006 URL: http://www.thehindubusinessline.com/2006/06/03/stories/2006060302610800.htm

Back Mixed trend in rubber

Aravindan

Kottayam , June 2

Physical rubber prices showed a mixed trend on Friday. The market declined almost 17 per cent from an all time high of Rs 120 a kg to hit an intraday low of Rs 100 in a couple of sessions on panic selling from dealers and growers.

Sheet rubber closed steady at Rs 106 a kg at Kottayam. The grade was quoted at Rs 105 a kg at Kochi. A recovery in TOCOM after the heavy technical sales following a surge to its 25-year high triggered the short covering and fresh buying in the domestic scene, sources said.

Futures recover

The rubber futures bounced back on NMCE. The June contract was quoted at Rs 108.50 (Rs 104.57), July at Rs 110 (Rs 105.66), August at Rs 106.79 (Rs 102.68) and September contract at Rs 103.01 (Rs 99.68) per kg for RSS 4.

The volumes totalled 3,113 tonnes till noon with 319 tonnes in June, 1993 tonnes in July, 585 tonnes in August and 216 tonnes in September.

The July futures RSS 3 improved to 304.2 Yen (Rs 124.48) a kg from 302.5 Yen at TOCOM. But the grade declined to Rs 121.61 from Rs 124.63 a kg at Bangkok.

Physical prices (Rs a kg) were: RSS-4: Rs 106 (Rs 106); RSS-5: Rs 99 (Rs 101); ungraded: Rs 95 (Rs 97.50); ISNR 20: Rs 97 (Rs 99) and latex 60 per cent (per litre): Rs 72.50 (Rs 70).