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Physical rubber prices decline further on buyer resistance

09 Aug 2011 Evaluate

Selling continued in the physical rubber and the prices remained under pressure on Monday, tailing the weakness in the global and domestic futures market. There was buyer resistance in the spot markets and the prices slipped on selling from dealers as buyers stayed back expecting further fall in prices.

Spot prices for RSS-4 variety closed at Rs207/kg compared to its previous closing of Rs 208/kg, while the RSS-5 variety closed at Rs 203/kg compared to its previous closing of Rs 204/kg.

In the futures market, the contract of RSS-4 for August delivery weakened to Rs 207.50 compared to its previous closing of Rs 208.06, while the September contract closed at Rs 205.25 compared to its previous closing of Rs 206.99 on the National Multi Commodity Exchange.

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