Date:06/06/2006 URL: http://www.thehindubusinessline.com/2006/06/06/stories/2006060602840800.htm

Back Spot rubber prices recover

Aravindan

Kottayam , June 5

Rubber continued to recover from its sharp losses incurred during the previous sessions. Covering groups and purchase agents took advantage of the firm overseas indices and unfavourable weather forecasts to initiate the up trend.

Sheet rubber improved to Rs 110 from Rs 106 and Rs 107 a kg respectively at Kottayam and Kochi. The supplies were tight as most traders and growers sold their stocks last week, sources said.

The tapping would be disrupted due to heavy overnight and morning rains even under rain guards. Hence dealers expect prices to firm up again towards the peak monsoon season.

Futures gain

The NMCE rubber futures followed the global mood quoting the June contract at Rs 114.44 (Rs 108.84), July at Rs 117.40 (Rs 111.43), August at Rs 114.01 (Rs 108) and September at Rs 109.39 (Rs 104.02) a kg for RSS 4.

Spot prices (Rs a kg) on Monday were: RSS-4: Rs 110 (Rs 106);

RSS-5: Rs 105 (Rs 100); ungraded: Rs 100 (Rs 95); ISNR 20: Rs 101 (Rs 97) and latex 60 per cent (a litre): Rs 74 (Rs 73).