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Physical rubber prices resume declining trend on Tuesday

03 Aug 2011 Evaluate

After a day of gain, the physical rubber prices once again dipped into red on Tuesday, though the domestic futures improved but the buyer resistance led the prices fall in spot market. However, there was no renewed selling pressure in the market though the reports on increasing production and imports pointed to further decline in prices.

The spot prices for RSS-4 variety closed at Rs 207.00/kg compared to its previous closing of Rs 208.00/kg, while the RSS-5 variety closed at Rs 204.00/kg compared to its previous closing of Rs 205.00/kg.

In futures market, the contract of August delivery improved to Rs 207.65 compared to its previous closing of Rs 206.62, while the contract for September delivery closed at Rs 207.09 compared to its previous closing of Rs 206.08 on National Multi Commodity Exchange.

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