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Physical rubber prices recover on covering purchase

25 Apr 2012 Evaluate

Physical rubber prices made some recovery on Tuesday on covering purchases, however weakness in international futures market and absence of quantity buyers continued to weigh on the sentiments.

Spot prices for RSS-4 variety closed at Rs 192.50/kg compared to its previous closing of Rs 192/kg; while RSS-5 variety closed at Rs 191/kg compared to its previous closing of Rs 190.50/kg.

In the futures market the contract of RSS-4 for May delivery closed at Rs 189.90 compared to its previous closing of Rs 188.12, while the contract for June delivery closed at Rs 196.75 compared to its previous closing of Rs 195.11 on National Multi Commodity Exchange.

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