Mixed trend ion spot rubber
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Spot rubber prices witnessed a mixed trend on Tuesday. RSS 4 moved down to Rs.88 from Rs.88.50 and Rs.89.50 a kg respectively at Kottayam and Kochi on buyer resistance. A similar trend in domestic futures kept most of the traders on the sellers side. Meanwhile latex 60 per cent improved on better demand, while RSS 5 was unchanged and ungraded rubber weak. Major manufacturers were rather inactive.
FUTURES WEAK
The rubber futures turned weak recording moderate losses in all contracts. According to observers traders were shifting their positions from current month to the succeeding month to play safe and encash the price difference. The September contract on NMCE declined to Rs.87.11 (89.74), October to Rs.82.87 (83.75), November to Rs.80.76 (81. 86) and December to Rs.80.40 (81.01) per kg for RSS 4. Physical prices were (Rs/kg): RSS-4: 88 (88.50); RSS-5: 86.50 (86.50); ungraded : 82.50 (83.50); ISNR 20: 85(86.25) and latex 60 per cent : 62.60 (62.10).
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Source : Business Line |
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