Active covering groups help rubber recoup
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The physical rubber rates turned better on Friday. RSS 4 firmed up to Rs.94.50 and Rs.95 a kg respectively at Kottayam and Kochi from Rs,94 a kg as covering groups and purchase agents remained active on the grade. Major manufacturers were buyers on sheet rubber up to Rs.94 a kg while the trend was mixed since certain counters were steady owing to low demand.
FUTURES GAIN
The February futures closed marginally higher at 295.8 Yen (Rs.106.34) against 295.3 Yen a kg at TOCOM The Japanese trend setter opened lower following yen’s rise against dollar but managed to finish in the positive zone as buying at lower levels became dominant towards the end of the half day session.
On NMCE, the January contract improved to Rs97,09 (96.49), February to Rs.98.89 (98.33), March to Rs.100.77 (100.09) and April to Rs.102.70 (101.83) per kg for RSS 4. The volumes were 2,160 (1,263) tonnes.
Spot prices were (Rs./kg): RSS-4: 94.50 (94); RSS-5: 92 (92); ungraded: 90.50 (90); ISNR 20: 91 (91) and Latex 60 per cent : 61.50 (61.50).
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Source : Business Line |
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