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Monday, July 4, 2022

Malaysia: Rubber market closes slightly lower

KUALA LUMPUR: Malaysian rubber prices closed slightly lower today on mild selling, a dealer said.

However, he said there are some positive news in the market including the Thai Government’s announcement to postpone the sale of the remaining 100,000 tonnes of rubber stocks to avoid depressing prices further.

“Another positive factor is the report that China’s manufacturing sector unexpectedly picked up some momentum this month even as factory employment slumped to a five-and-a-half year low,” he said.

The Malaysian Rubber Board’s official physical price for tyre-grade SMR 20 was flat at 469.5 sen a kg at noon while latex-in-bulk eased 2.0 sen to 384 sen a kg.

The unofficial closing price for tyre-grade SMR 20 slipped 0.5 sen to 468 sen a kg while latex-in-bulk fell 1.5 sen to 383.5 sen a kg.– Bernama

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