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Physical rubber prices move higher on Thursday

12 Aug 2011 Evaluate

Physical rubber prices moved slightly higher on Thursday on the back of improvement in domestic and international futures market and supply concern due to rains in growing areas. However, the gains were limited after the domestic futures declined in late trade, indicating that the market was still under pressure on higher production, stocks and imports.

Spot prices for RSS-4 variety closed at Rs 205/kg compared to its previous closing of Rs 204/kg , while the  RSS-5 variety closed at Rs 201/kg  compared to its previous closing of Rs 200/kg.

In the futures market, the contract of RSS-4 for August delivery closed at Rs 205.01 compared to its previous closing of Rs 206.54, while the contract for September delivery closed at Rs 203.70 compared to its previous closing of Rs 203.94 on the National Multi Commodity Exchange.

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