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Rubber prices at two-month low as rising COVID-19 cases weigh on global demand

After gaining nearly 28 percent in the previous year, rubber prices have risen 11 percent in the January-March 2021 period. However, rubber prices witnessed some profit-taking in the last few sessions.

Concerns over slowing economic recovery, a slowdown in demand especially from China and the US have kept rubber prices under check. Rising COVID-19 cases in India, Brazil, and many other countries are weighing on these industrial commodities.

We have seen some decline in the Asian markets and India has also seen a continuous decline in rubber prices for the last 5 sessions.

Meanwhile, global demand recovery will be the key positive for rubber prices going ahead.