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Monday, October 25, 2021

Malaysia: Rubber market closes lower

KUALA LUMPUR: The Malaysian rubber market closed lower today on the back of a strengthening ringgit against the US dollar, a dealer said.

He said the performance was also in sync with the benchmark Tokyo Commodity Exchange.

The dealer said sentiment was also plagued by the decline in Japanese equities, as the drop in global crude oil prices and decline in Japanese machinery orders further pressured the soft commodity contract.

At the close, the Malaysian Rubber Board’s official physical price for tyre-grade SMR 20 slipped 2.5 sen to 524.5 sen a kg while latex-in-bulk was two sen lower at 453 sen a kg.

The unofficial closing price for tyre-grade SMR 20 added two sen to 527 sen a kg while latex-in-bulk shed two sen to 452 sen a kg.– Bernama

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