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Physical rubber prices show extreme bullish trend on Wednesday

13 Sep 2012 Evaluate

Physical rubber prices showed an extreme bullish trend on Wednesday. Sharp gains in the domestic and international futures along with the restricted supplies catalyzed the market temper, prompting fresh buying and short covering in the commodity.

Spot prices for RSS-4 variety continued to increase to Rs 183/ kg compared to its previous close of Rs 180/ kg, while RSS-5 variety closed at Rs 174/ kg compared to its previous closing of Rs 170/ kg.

In the futures market, contract of September delivery flared up to Rs 187 compared to its previous closing of Rs 180.85, while October delivery closed at Rs 183.40 compared to its previous closing of Rs 177.51 on the National Multi Commodity Exchange.

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