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Aravindan

Kottayam, July 4 Physical rubber ruled almost steady since the futures markets showed a firm close on Wednesday. RSS 4 closed flat at Rs 73 a kg both at Kottayam and Kochi after touching an intra day low at Rs 72.50 a kg in the morning session. The volumes were dull and the uncertain market conditions seem to panic the whole trading and producing community.

The rubber futures showed a better trend on NMCE. The July contract settled higher at Rs 74 (73.46), August at Rs 74.90 (74.32), September at Rs 75.10 (74.35) and October at Rs 75.05 (74.37) per kg for RSS 4. The transactions totalled 2,737 (2,582 ) tonnes.

According to observers the market opened weak but regained strength on fresh buying and short covering towards mid-session. The open interest was 7,025 (6,926) lots with 2,420 (2,464) lots in July, 2,699 (2,641) lots in August, 1,102 (1,057) lots in September and 804 (764) lots in October. Spot prices were (Rs/kg): RSS-4: 73 (73); RSS-5: 70.50 (70.50); ungraded: 68 (69); ISNR 20: 70.50 (70.50) and latex 60 per cent: 55.80 (55.80).

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