Physical Rubber prices extended weakness on Monday due to curtailed demand stemming from concerns over spreading Omicron variant. Moreover, buyer resistance in the market following expectations for a subsequent improvement in production and arrivals also adding pressure on rubber prices. Spot prices for RSS-4 variety diminished to 185/ kg compared to its previous closing of Rs 186/ kg; while the RSS-5 variety declined to 182/ kg compared to its previous closing of Rs 183/ kg.
In the futures market, December delivery fell to Rs 187.50 compared to its previous closing of Rs 188.53 on the Indian Commodity Exchange Limited (ICEX).
