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Physical Rubber prices witness improvement on Wednesday

27 Aug 2020 Evaluate

Physical Rubber prices showed improvement on Wednesday due to ongoing supply crunch in the domestic market. Further, improved demand from domestic buyers too supported rubber prices. While, the Association of Natural Rubber Producing Countries said global consumption is expected to increase 2.6 percent on-year in August-October. However, reports that fresh imports of rubber would reach India by the month-end, capped some gains. Spot prices for RSS-4 variety gained to 132/ kg compared to its previous closing of Rs 130/ kg; while the RSS-5 variety jumped to 127/ kg compared to its previous closing of Rs 125.50/ kg.

In the futures market, September delivery gained to Rs 134 compared to its previous closing of Rs 131.64 on the Indian Commodity Exchange Limited (ICEX).

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