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Aravindan

Kottayam, April 21

The weekend witnessed a firm closing in physical rubber prices. Covering groups were buyers at lower levels observing the recovery in domestic futures. Sheet rubber moved up to Rs 86.75 a kg from Rs 86 a kg, while the trend remained mixed and the volumes better. According sources, the repeated assurances of Rubber Board Chairman against rubber imports instilled confidence in traders.

FUTURES GAIN

The rubber futures gathered momentum extending Friday's gains on fresh buying and short covering on NMCE. The May contract improved to Rs 88.38 (86.94), June to Rs 91.78 (90.19), July to Rs 94.08 (92.36) and August to Rs 93.92 (91.98) per kg for RSS 4. The May contract firmed up to Rs 89.31 from Rs 87.79 a kg on MCX. Spot prices were (Rs/kg): RSS-4: 86.75 (86); RSS-5: 85.50 (85); ungraded: 84.75 (84); ISNR 20: 85.25 (85.25) and latex 60 per cent: 63.65 (63.65).

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