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Physical rubber prices consolidate on Tuesday

20 Jul 2011 Evaluate

Physical rubber prices took a pause on Tuesday after surging in the previous session, some pressure was witnessed due to the government's approval for 40000 tonnes of rubber import. Traders preferred to wait till the market recovers from the impact of the news and stabilise before recovering the early losses. However, there was no selling pressure in the market but the prices remained subdued owing to buyer resistance.

Spot prices for RSS-4 variety closed at Rs 214/kg compared to its previous closing of Rs 215/kg, while the RSS-5 variety closed at Rs 211/kg compared to its previous closing of Rs 212/kg.

In the futures market, the contract of RSS-4 for the August series closed at Rs 215.05 compared to its previous closing of Rs 213.39, while the contract of September delivery closed at Rs 213.75 compared to its previous closing of Rs 212.16 on the National Multi Commodity Exchange.

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