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Physical Rubber prices extend gains on Tuesday

24 Nov 2021 Evaluate

Physical Rubber prices extended gains on Tuesday as acute shortage of the raw material and revival in demand supported sentiments. The Association of Natural Rubber Producing Countries (ANRPC) said global supply of natural rubber has remained tight largely due to unseasonal torrential depression rains and floods that affected major rubber-growing regions in India, Thailand and Malaysia. Spot prices for RSS-4 variety gained to Rs 188/ kg compared to its previous closing of Rs 186/ kg; while the RSS-5 variety firmed to Rs 186/ kg compared to its previous closing of Rs 184/ kg.

In the futures market, December delivery gained to Rs 182.50 compared to its previous closing of Rs 179.83 on the Indian Commodity Exchange Limited (ICEX).


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