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Physical rubber prices showed some weakness on Wednesday

21 Jan 2016 Evaluate

Physical rubber prices showed some weakness on Wednesday on buyer resistance as certain tyre companies were buyers only up to Rs 95.00 a kg for RSS 4. Further, declines in domestic futures too kept sentiments under pressure. Spot prices for RSS-4 variety declined to Rs 96/ kg compared to its previous closing of Rs 97/ kg; while the RSS-5 variety remained unchanged at Rs 91.50/kg.

In the futures market, contract of February delivery dropped to Rs 96.90 compared to its previous closing of Rs 98.75, while March delivery closed at Rs 98.89 compared to its previous close of Rs 100.55 on the National Multi Commodity Exchange (NMCE).

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