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Physical rubber prices make another mixed closing on Thursday

17 Jun 2011 Evaluate

Physical rubber prices once again made a mixed closing on Thursday and despite skewed supply overall gains were limited due to the absence of quantity buyers from major consuming sectors. Also the weakness in the domestic and international futures prices weighed on the markets. Meanwhile, it was reported that the country’s rubber production increased 5.9 per cent to 59,700 tonnes in May against 56,400 tonnes during the same period a year ago.

Spot prices for RSS-4 variety closed at Rs 228/kg compared to its previous closing of Rs 227.50/kg, while the RSS-5 variety closed unchanged at Rs 226/kg.

In the futures market, the contract of RSS-4 for July delivery closed at Rs 229.92 compared to its previous closing of Rs 231.57, while the contract for August delivery closed at Rs 231.85 compared to its previous closing of Rs 233.30 on the National Multi Commodity Exchange.

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