Physical rubber prices drop further on Wednesday

Physical rubber prices dropped further on Wednesday due to sharp declines in domestic and international futures and lack of quantity buyers weighed on the sentiments.

Spot prices for RSS-4 variety closed lower at Rs 177/ kg compared to its previous closing of Rs 178.50/ kg, while RSS-5 variety closed at Rs 171.50/ kg compared to its previous closing of Rs 172/ kg.

In the futures market, the contract of RSS-4 August delivery declined to Rs 172.50 compared to its previous close of Rs 176.60, while September delivery closed at Rs 168 compared to its previous close of Rs 172.44 on the National Multi Commodity Exchange.