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Physical Rubber prices witness weakness on Wednesday

16 Dec 2021 Evaluate
Physical Rubber prices witnessed weakness on Wednesday, pressured by the weak demand outlook for the commodity amidst fears over slowing production in automobile sectors with the spread of the Omicron coronavirus variant. Besides, improved arrivals from growing belts also added downside. Meanwhile, the global supply of natural rubber is expected to decline from this month onwards on account of the seasonal factor.

Spot prices for RSS-4 variety dipped to 178.50/ kg compared to its previous closing of Rs 179/ kg; while the RSS-5 variety narrowed to 175.50/ kg compared to its previous closing of Rs 176/ kg.

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