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Aravindan

Kottayam April 9 Physical rubber prices were steady on Monday. The overseas advices were bullish but the domestic markets failed to respond as overnight rains and news on domestic stocks kept the prices under pressure even after Easter holidays.

Sheet rubber closed unchanged at Rs 94.50 a kg at Kottayam as on Saturday. The grade touched Rs 95 a kg at Kochi in the morning session but fell back towards close to Rs 94.25(94.50) a kg on buyer resistance.

Futures decline

The rubber futures declined onNMCE. The market was totally in a sellers mode throughout the session, sources said. The April contract finished the day at Rs 93.65 (94.22), May at Rs 96.85 (98.13), June at Rs 100.60 (102.20) and July at Rs 102.21 (103.39) a kg for RSS 4. The volumes were 2,219 (849) tonnes.

The May contract for RSS 4 declined to Rs 96.50 from Rs 97.99 a kg on MCX.

Spot prices were (Rs/kg): RSS-4: 94.50 (94.50); RSS-5: 93.50 (93.50); ungraded: 92.50 (92.50); ISNR 20: 93.25 (93.25) and latex 60 per cent: 65.25 (64.70).

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