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Physical Rubber prices witness weakness on Tuesday

29 Jan 2020 Evaluate

Physical Rubber prices showed weakness on Tuesday as lack of buyers from the tyre sector kept the commodity under pressure. Rubber prices weakened further on concerns over demand from China as economic activity is set to be affected following the coronavirus outbreak. Spot prices for RSS-4 variety declined to 136/ kg compared to its previous closing of Rs 137/ kg; while the RSS-5 variety fell to 130/ kg compared to its previous closing of Rs 131/ kg.

In the futures market, February delivery rose to Rs 134.30 compared to its previous closing of Rs 133.35, while March delivery was at Rs 136.25 compared to its previous close of Rs 135.50 on the Indian Commodity Exchange Limited (ICEX).

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