Physical rubber prices move higher on hopes of demand rise (29-Jul-2010)
The physical rubber prices moved higher on Thursday taking cues from the gains in futures market as there were reports that the demand in China, the world's largest consumer, would increase further, along with the expansion of the tyre output in the country.
Spot price for RSS-4 closed at Rs 185.50 compared to its previous closing of Rs 185.00 while the contract for RSS-5 variety closed at Rs 179.50 compared to its previous closing of Rs 179.00.
In the futures market the contract for August delivery for RSS-4 improved to Rs 185.59 compared to its previous closing of Rs 184.04 while the contract for September delivery closed at Rs 169.10 compared to its previous closing of Rs 168.79 on the National Multi Commodity Exchange.
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