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Our Correspondent

Kottayam , May 31

Slight recovery in Japanese futures saved the spot prices from further fall on Wednesday. Covering groups and purchase agents were reluctant to enlarge their commitments, while the selling from dealers narrowed reacting optimistically to the gains in overseas indices.

RSS 4 closed steady at Rs 114 a kg at Kottayam. But the grade improved to Rs 115 a kg from Rs 113.50 at Kochi. The trend remained mixed as RSS 5 and ungraded rubber lost marginally on buyer resistance.

Futures gain

The rubber futures made a sharp come back on fresh buying and short covering on NMCE. The near month June contract was quoted at Rs 115.99 (Rs 110.47), July at Rs 116.60 (Rs 110.48), August at Rs 113.55 (Rs 107.77) and September contract at Rs 109 (Rs 104.20) per kg for RSS 4.

Spot prices (Rs a kg) were: RSS-4: Rs 114 (Rs 114.00); RSS-5: Rs 109 (Rs 110.00); ungraded: Rs 102 (Rs 103); ISNR 20: Rs 104 (Rs 104) and latex 60 per cent (per litre): Rs 71 (Rs 71).

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