MUMBAI: Indian tyre makers on Monday bought natural rubber at a record 192.5 rupees ($4.33) per kg as unseasonal rains tightened a supply squeeze in the world's fourth biggest producer, three dealers said.
Tyre makers bought RSS-4 rubber (ribbed smoked sheet) by paying as much as 19,250 rupees per 100 kg at the Kottayam market in southern state of Kerala, higher than 19,100 rupees they paid last month.
The benchmark rubber November contract on India's National Multi-Commodity Exchange (NMCE) hit a record high of 19,837 rupees per 100 kg earlier in the day. ($1=44.4 rupees)
(economictimes.indiatimes.com)
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