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Aravindan

Kottayam, Oct. 9 Rubber prices moved up as traders turned aggressive to cover their positions on or before 11th in current month futures following rumours on low stocks in warehouses . The bull run might expire once the covering is over and the prices would fall back to normal levels, an observer said. In the physical front, RSS 4 firmed up to Rs 90 and Rs 90.50 from Rs 89 and Rs 89.50 a kg respectively at Kottayam and Kochi and the market made all round gains on fresh demand.

In futures the October contract for RSS 4 improved sharply to Rs 92.66 (91.28) a kg while the November contract downed the shutters at Rs 87.70 (87.82), December at Rs 87.75 (87.72) and January at Rs 88.76 (88.70) per kg on NMCE. The open interest stood at 3,712 (3,729) lots with 594 (898) lots in October, 1,755 (1,564) lots in November, 977 (889) lots in December and 386 (378) lots in January. Spot prices were (Rs/kg): RSS-4: 90 (89); RSS-5: 88 (87); ungraded: 86 (85); ISNR 20: 87 (86) and latex 60 per cent: 62.60 (62.10).

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