Physical rubber prices weakens further on Saturday

Physical rubber prices weakened on Saturday tailing the decline in domestic and global futures. Favourable climatic conditions improved production prospects amidst subdued demand from tyre manufacturers.

Spot prices for RSS-4 variety closed at Rs 183/kg compared to its previous closing of Rs 183.50/kg; while the RSS-5 variety closed at Rs 176/kg compared to its previous closing of Rs 177/kg.

In the futures market, the contract of RSS-4 for the November delivery declined to Rs 179.44 compared to its previous closing of Rs 180.08, while the contract for December closed at Rs 180.44 compared to its previous closing of Rs 181.22 on the National Multi Commodity Exchange.