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Aravindan

Kottayam , Aug 2

Spot rubber resumed the uptrend on Wednesday. RSS 4 improved on covering purchases reacting to favourable overseas reports.

According to sources the tyre sector maintained the quotations at Rs 92.50 per kg for the grade and it improved to Rs 93.50 from Rs 92.50 a kg both at Kottayam and Kochi.

Buyers from the non-tyre sector supported the latter grades to gain further but latex continued to rule weak lacking buying interest.

Futures gain

The rubber futures made handsome gains on NMCE.

But the volumes till 2 p.m. were still low at 531 tonnes possibly since majority of players switched over to other commodities like pepper which seemed to offer more short-term benefits.

The August contract was quoted at Rs 94.30 (Rs 93.33), September at Rs 91.30 (Rs 90.14), October at Rs 89.99 (Rs 88.76) and November contract at Rs 90.00 (Rs 88.98) per kg for RSS 4.

Spot prices (Rs a kg) were: RSS-4: Rs 93.50 (Rs 92.50); RSS-5: Rs 91 (Rs 90.50); ungraded: Rs 89 (Rs 87.50); ISNR 20: Rs 90.50 (Rs 89.50) and latex 60 per cent: Rs 73.67 (Rs 74.72).

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