Date:15/07/2006 URL: http://www.thehindubusinessline.com/2006/07/15/stories/2006071502111000.htm

Back Lack of buying hits spot rubber

Aravindan

Kottayam , July 14

Spot rubber weakened on Friday. The market lost ground as all major international commodity exchanges finished in the negative territory. Covering groups and purchase agents were not at all interested to enhance their commitments and major manufacturers continued to sideline the market.

RSS 4 settled slightly down at Rs 100.50 and Rs 100.75 a kg against Rs 101.00 and Rs 101.50 respectively at Kottayam and Kochi. There were no genuine buyers on any grade since most of them believed that the prices would soften further.

Futures decline

The rubber futures moved down following fresh speculative selling on NMCE. The August contract was quoted at Rs 100.45 (Rs 101.93), September contract at Rs 98.84 (Rs 100.53) and October contract at Rs 96.25 (Rs 97.60) per kg for RSS 4.

Spot prices (Rs a kg) were: RSS-4: Rs 100.50 (Rs 101); RSS-5: Rs 98.50 (Rs 99); ungraded: Rs 96.50 (Rs 97); ISNR 20: Rs 97 (Rs 97) and latex 60 per cent: Rs 79.45 (Rs 79.45).