Physical rubber prices declined on Wednesday on buyer resistance following the declines on National Multi Commodity Exchange. Further, long holidays in the global markets and absence of genuine buyers in the local scene too influenced rubber prices.
Spot prices for RSS-4 variety declined to Rs 163.50/ kg compared to its previous closing of Rs 164/ kg, while RSS-5 variety closed at Rs 156.50/ kg compared to its previous close of Rs 157/ kg.
In the futures market, contract of January delivery dropped to Rs 162.79 compared to its previous closing of Rs 165.50, while February delivery closed at Rs 165.35 compared to its previous close of Rs 167.97 on the National Multi Commodity Exchange (NMCE).
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