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Physical Rubber prices witness some firmness on Saturday

01 Jun 2020 Evaluate

Physical Rubber prices showed some firmness on Saturday on enquiries from the non tyre sector. Rubber prices improved further after news that India may impose anti-dumping duty on imports of a certain type of rubber used in various industries. Though, data showed natural rubber production in India increased 9.4% to 712,000 tons during 2019-20, crossing the 700,000 tons, first time in five years. Spot prices for RSS-4 variety rose to 117.50/ kg compared to its previous closing of Rs 117/ kg; while the RSS-5 variety remained unchanged at Rs 111/kg.

In the futures market, June delivery gained to Rs 121.20 compared to its previous closing of Rs 120.26, while July delivery was trading at Rs 122 compared to its previous close of Rs 120.23 on the Indian Commodity Exchange Limited (ICEX).

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