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Tuesday, July 5, 2022

Malsaysia: Rubber prices close lower

KUALA LUMPUR (Mar 28): Rubber prices on the Malaysian rubber market closed lower today on a stronger ringgit against the US dollar, a dealer said.

He said the easier local market was in tandem with the downtrend on the Tokyo Commodity Exchange.

“Many traders were uncertain of the rubber market outlook, the real demand from major tyre-makers is still there, but the macroeconomic uncertainties in China are weighing down the sentiments,” he said.

At noon, the Malaysian Rubber Board’s official physical price for tyre-grade SMR20 fell eight sen to 620 sen a kg and latex-in-bulk eased half-a-sen to 499.5 sen a kg.

The unofficial closing price for tyre-grade SMR20 lost 8.5 sen to 616.5 sen a kg and latex-in-bulk was 1.5 sen lower at 498.5 sen a kg.

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