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Aravindan

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Kottayam March 2 Spot rubber prices weakened on Friday. Most of the international indices were bearish though TOCOM managed to finish the session in green on weekend short covering. The domestic buyer resistance continued to weigh heavily on the traders, while the market surrendered further amidst narrow volumes

Sheet rubber moved down to Rs 94 a kg from Rs 94.50 a kg both at Kottayam and Kochi. Exports could save the market at this juncture but Indian rubber does not seem to attract the quoted price levels in the international market, an observer said. The trend was mixed.

Futures weak

Rubber futures turned weak on NMCE. The March contract was down at Rs 94.05 (94.42), April at Rs 98.71(99.90), the most active May contract at Rs 104.10 (105.05) and June at Rs 107.18 (108.42) a kg for RSS 4. The volumes were quoted at 2,402 (3,363) lots and open interest 17,215 (17,111) tonnes. The March delivery for the grade finished at Rs 93.10 against Rs 93.21 a kg on MCX.Physical prices were (Rs/kg): RSS-4: 94 (94.50); RSS-5: 92 (92); ungraded: 90.50 (91); ISNR 20: 90.50 (90.50) and latex 60 per cent: 62.60 (63.15).

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