Physical Rubber prices witnessed weakness on Monday due to sharp slowdown in demand amid concerns surrounding global virus resurgence. Further, lockdown related concerns too added more pressure on rubber prices. However, rubber supply shortage issues capped further fall in rubber prices.
Spot prices for RSS-4 variety fell to Rs 164/ kg compared to its previous closing of Rs 166.50/ kg; while the RSS-5 variety declined to Rs 159/ kg compared to its previous closing of Rs 162.50/ kg. In the futures market, May delivery lost to Rs 166 compared to its previous closing of Rs 167.37 on the Indian Commodity Exchange Limited (ICEX).
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