The market remained under pressure on account of technical and fundamental reasons which resulted in the spot rubber to end weakly on Saturday and most of the traders also appeared to fear of a further decline in prices.
The sheet rubber declined on buyer resistance to Rs 168 from Rs 170 a kg whereas the transactions were in a low key.
In the meantime, the September series for RSS 4 declined to Rs 168.44 (168.77), October to Rs 164.58 (164.86), November to Rs 163.45 (164.01) and December to Rs 164 (164.11) a kg on the National Multi Commodity Exchange (NCDEX).
The volumes totaled 2562 lots and turnover Rs 42.78 crore and the open interest in all series was 4,578 lots while the spot rates were (Rs/kg): RSS-4: 168 (170); RSS-5: 162.50 (164); ungraded: 156 (159.50); ISNR 20: 150 (150) and latex 60 per cent: 113 (113).
Rubber is the common name of a chemical substance with the ability to shrink and stretch. Technically, it is a polymer naturally found as a milky liquid in the sap of several types of plants, mainly Hevea brasiliensis (Euphorbiaceae).
To distinguish the tree-obtained version of natural rubber from the synthetic version, the term gum rubber is sometimes used. Some common things made from rubber are gloves, tires, plugs, and masks.
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