Physical rubber prices turned lower on Monday tailing the weakness in the domestic and international futures market. Buyers’ resistance acted as the major hindrance in prices moving up, otherwise there was no selling pressure in any of the varieties.
Spot prices for RSS-4 variety closed at Rs 197/kg compared to its previous closing of Rs 198/kg; while the RSS-5 variety remained unchanged at Rs 196/kg.
In the futures market, the contract of RSS-4 for May delivery weakened to Rs 197.75 compared to its previous closing of Rs 199.97, while the contract for June delivery closed at Rs 202.89 compared to its previous closing of Rs 204.94 on the National Multi Commodity Exchange.
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