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Physical Rubber prices witness improvement on Monday

04 Dec 2018 Evaluate

Physical Rubber prices showed improvement on Monday on covering purchases at lower levels on Monday. Spot market prices also supported by gains in the global market as US-China trade talks showed signs of progress. During the Group of 20 nations meeting with Chinese President Xi Jinping, US President Donald Trump announced that no new tariffs would be imposed on Chinese goods for 90 days and attempts will be made to negotiate a more substantial agreement between the two countries.

Spot prices for RSS-4 variety rose to 119.50/ kg compared to its previous closing of Rs 119/ kg; while the RSS-5 variety jumped to 117/ kg compared to its previous closing of Rs 116/ kg.

In the futures market, December delivery fell to Rs 122.28 compared to its previous closing of Rs 123.03, while January delivery was at Rs 123.49 compared to its previous close of Rs 124.29 on the Indian Commodity Exchange Limited (ICEX).

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