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Physical rubber prices decline further

19 May 2011 Evaluate

Physical rubber prices continued their decline on Wednesday tracking the weakness in the domestic futures market. Selling from dealers was putting pressure on the prices as there were no quantity buyers to absorb the commodity.

Spot prices for RSS-4 variety closed at Rs 224/kg compared to its previous closing of Rs 224.50/kg, while the RSS-5 variety closed at Rs 222.50/kg compared to its previous closing of Rs 223.50/kg.

In the futures market, the contract of RSS-4 for June series weakened to Rs 222 compared to its previous closing of Rs 226.58, while the contract for July delivery closed at Rs 225.85 compared to its previous closing of Rs 229.59 on the National Multi Commodity Exchange.

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