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Tuesday, May 17, 2022

Malaysia: Rubber mart eases on strong ringgit

KUALA LUMPUR: Malaysian rubber prices closed lower for the fifth consecutive day today on further strengthening of the ringgit against the US dollar.

A dealer said the local prices were also pressured by weaker economic data from China — the world’s second-largest economy.
At noon, the Malaysian Rubber Board’s official physical price for tyre-grade SMR 20 fell four sen to 581 sen a kg while latex-in-bulk was seven sen lower at 483 sen a kg.
The unofficial closing price for tyre-grade SMR 20 eased 1.5 sen to 577 sen a kg while latex-in-bulk fell 2.5 sen to 481 sen a kg.– Bernama

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