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Physical Rubber prices witness firmness on Monday

09 Jun 2020 Evaluate

Physical Rubber prices showed firmness on Monday due to ongoing supply crunch in the market. Further, the Association of Natural Rubber Producing Countries has cut its estimate for production of natural rubber in 2020 to 13.1 million ton from 13.4 million ton pegged a month ago, too supported rubber prices. Spot prices for RSS-4 variety rose to 121/ kg compared to its previous closing of Rs 120/ kg; while the RSS-5 variety rose to 117/ kg compared to its previous closing of Rs 116/ kg.

In the futures market, July delivery gained to Rs 124.74 compared to its previous closing of Rs 124.68, on the Indian Commodity Exchange Limited (ICEX).

 

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