Date:25/07/2006 URL: http://www.thehindubusinessline.com/2006/07/25/stories/2006072504180800.htm

Back Rubber continues to slip

Aravindan

Kottayam , July 24

Domestic spot rubber rates continued their decline on Monday. Major consuming sectors stuck to their "wait and watch policy" as the reports from the global commodity exchanges were still unfavourable.

Sheet rubber RSS 4 moved down to Rs 92 from Rs 94 a kg at Kottayam and Kochi. According to sources, a leading tyre company was buyer up to Rs 92.50 per kg for the grade.

Futures weak

The rubber futures ruled extremely weak on NMCE. The August contract was quoted at Rs 91.50 (Rs 93.40), September at Rs 87.50 (Rs 90.08), October at Rs 87.20 (Rs 88.07) and November contract at Rs 86.40 (Rs 87.04) per kg for RSS 4.

The volumes stood at 2,047 tonnes with 1092 tonnes in August, 799 tonnes in September, 79 tonnes in October and 77 tonnes in November till mid session.

At Bangkok, RSS 3 was flat at 112.55 a kg as on Friday. It's August futures declined to 280.5 yen (Rs 112.88) from 282.4 yen a kg at TOCOM.

Physical rubber prices per kg were: RSS-4: Rs 92 (Rs 94); RSS-5: Rs 91 (Rs 92.50); ungraded: Rs 89.50 (Rs 91); ISNR 20: Rs 91 (Rs 92.50) and latex 60 per cent: Rs 77.35 (Rs 77.90).