Physical Rubber prices showed weakness on Wednesday on account of tepid demand from tyre makers and domestic stockists, despite an ongoing supply crunch in the market. A fall in benchmark rubber contracts on the TOCOM due to rapid spread of corona virus cases also dampened investors' sentiment. Spot prices for RSS-4 variety declined to 128.50/kg compared to its previous closing of Rs 129/kg; while the RSS-5 variety fell to 124.50/kg compared to its previous closing of Rs 125/kg.
In the futures market, April delivery declined to Rs 123.40 compared to its previous closing of Rs 125.04, while May delivery was at Rs 125.00 compared to its previous close of Rs 126.85 on the Indian Commodity Exchange Limited (ICEX).