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Physical Rubber prices witness weakness on buyer resistance

02 Mar 2021 Evaluate

Physical Rubber prices showed weakness on Monday on account of buyer resistance in the market following the sharp declines in overseas markets. However, renewed optimism on global economy after the US House of Representatives passed President Joe Biden’s $1.9 trillion stimulus package, capped some losses.

Spot prices for RSS-4 variety declined to Rs 160/ kg compared to its previous closing of Rs 160.50/ kg; while the RSS-5 variety fell to Rs 155/ kg compared to its previous closing of Rs 155.50/ kg. In the futures market, March delivery lost to Rs 161.70 compared to its previous closing of Rs 163.71 on the Indian Commodity Exchange Limited (ICEX).