Date:15/08/2006 URL: http://www.thehindubusinessline.com/2006/08/15/stories/2006081501370800.htm

Back Spot rubber rules steady

Aravindan

Kottayam , Aug 14

Spot rubber ruled steady on Monday even amidst sharp declines in Japanese futures markets especially TOCOM. The domestic scene remained absolutely neutral, as there were no quantity buyers or sellers in the trading centres to set the day's trend.

Sheet rubber was quoted at Rs 93 and Rs 93.50 a kg respectively at Kottayam and Kochi as on Saturday. According to sources a favourable turn in weather and other fundamentals enhancing the production and uninterrupted supply would put further pressure on prices.

Futures decline

The rubber futures reacted moderately in favour of the overseas reports but with only marginal losses on NMCE. The trading volumes were 821 tonnes till mid session.

The August delivery was traded at Rs 96.00 (Rs 97.24), September at Rs 90.18 (Rs 90.99), October at Rs 87.75 (Rs 88.44) and November delivery at Rs 87.70 (Rs 87.91) per kg for RSS 4.

Physical prices (Rs a kg) were: RSS-4: Rs 93 (Rs 93); RSS-5: Rs 91.50 (Rs 91.50); ungraded: Rs 88.50 (Rs 88.50); ISNR 20: Rs 91 (Rs 91) and latex 60 per cent: Rs 73.67 (Rs 73.67).