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Aravindan

Kottayam April 26 Spot rubber closed unchanged on Thursday. The market improved in the morning on export hopes but failed to hold the gains later in the session. Reports that exports are on a risk due to the strengthening of rupee against dollar dampened the overall sentiments and sheet rubber closed unchanged at Rs 86.50 a kg after hitting a high at Rs 87 a kg both at Kottayam and Kochi.

Futures weak

The rubber futures turned weak following rumours on a cut in import duty to 5 per cent from 20 per cent. The markets were almost steady till 3.30 p.m. but lost towards close on long liquidation. The May contract moved down to Rs 86.60 from Rs 87.98a kg on MCX.

On NMCE, the May contract declined to Rs 86.10 (86.98), June to Rs 88.60 (89.93), July to Rs 91 (92.16) and August contract to Rs 91.98 (92.06) per kg for RSS 4.

Spot prices were (Rs/kg): RSS-4: 86.50 (86.50); RSS-5: 85.50 (85.50); ungraded: 84.50 (84.50); ISNR 20: 85.25 (85.25) and latex 60 per cent: 63.65 (63.65).

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