Prices of rubber, an industrial commodity, jumped on Tuesday to the highest level in nearly a month amid supply shortage, adding to a rebound that began last week as firm demand along with positive cues in the international market boosted sentiments of market participants.
MCX rubber futures due for delivery on May 31 traded 1.52 per cent (Rs 254) higher at Rs 17,010 per tonne, having touched Rs 17,050 per tonne earlier on Tuesday – a level last seen on April 7.
Analysts said the commodity is set for higher levels ahead fundamentally on account of tight supplies, thanks to demand from industries such as automobiles and healthcare.
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