Physical Rubber prices witness weakness on Tuesday

Physical rubber prices witnessed weakness on Tuesday due to higher seasonal supplies and reduced demand from tire manufacturers. However, some falls were limited as surging crude oil prices increased the production cost of petroleum-based synthetic rubber, which in turn drove up the demand for natural rubber.

Spot prices for the RSS-4 variety fell to Rs 275/kg compared to its previous closing of Rs 277/kg; while the RSS-5 variety declined to Rs 272/kg compared to its previous closing of Rs 274/kg.