Physical rubber prices remain steady on Wednesday

Physical rubber prices remained steady after showing some weakness in previous session, though there was buyers’ resistance reacting to the import news but the market sustained at the prevailing levels on supply concerns. The government has announced 40,000 tonnes of natural rubber import at the concessional duty of 7.5 per cent.

Spot prices for RSS-4 and RSS-5 variety closed unchanged at Rs 214/kg and Rs 211/kg respectively.

In futures market, the RSS-4 contract of August closed at Rs 213.03 compared to its previous closing of Rs 215.21, while the contract for September delivery closed at Rs 211.96 compared to its previous closing of Rs 214.14 on the National Multi Commodity Exchange.