Physical Rubber prices extend weakness on Thursday

Physical rubber prices extended weakness on Thursday on buyers’ resistance in the market, despite a firm closing in domestic futures. Spot prices for RSS-4 variety declined to Rs 122/ kg compared to its previous closing of Rs 123/ kg; while the RSS-5 variety dropped to Rs 114/ kg compared to its previous closing of Rs 115/ kg.

In the futures market, contract of September delivery improved to Rs 125.05 compared to its previous closing of Rs 122.99, while October delivery closed at Rs 115.09 compared to its previous close of Rs 113.30 on the National Multi Commodity Exchange (NMCE).