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Physical Rubber prices witness improvement on Wednesday

29 Nov 2018 Evaluate

Physical Rubber prices showed improvement on Wednesday due to bargain buying by domestic stockists after a sharp fall recently. Though, the overall sentiment in the rubber market is likely to remain under pressure due to higher imports of the commodity and dwindling demand from tyre manufacturers. Spot prices for RSS-4 variety rose to 118.50/ kg compared to its previous closing of Rs 118/ kg; while the RSS-5 variety jumped to 115/ kg compared to its previous closing of Rs 114/ kg.

In the futures market, December delivery improved to Rs 122.40 compared to its previous closing of Rs 122.17, while January delivery was at Rs 123.50 compared to its previous close of Rs 123.38 on the Indian Commodity Exchange Limited (ICEX).

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