India: Rubber prices decline; sentimentally positive for tyre stocks

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The domestic rubber prices have declined over 7% in the previous one month and is currently trading at Rs 150/kg.

Internationally the rubber prices have dipped by about 13-15% in previous one month. The international rubber prices are currently trading at Rs 160/kg.

The drop in rubber prices is sentimentally positive for the tyre stocks as natural rubber accounts for almost 45% of the raw material costs for .

Such a decline is positive for tyre stocks viz., Apollo Tyres, Ceat, MRF and .

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The tyre stocks were in focus even as shifts its focus from Indian markets to markets and decides to cut trade. raised the truck, bus and radial for Indian markets by almost 10-15% making it little attractive in Indian markets.

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