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Wednesday, August 17, 2022

Malaysia: Rubber mart declines

KUALA LUMPUR: The Kuala Lumpur rubber market recorded a decline yesterday, tracking the lower performance of the Tokyo Commodity Exchange (Tocom) and Shanghai Futures Exchange (SHFE).

He said companies in China are set to cut capital spending by around seven per cent this year, the biggest annual reduction since the global financial crisis.

“This will likely impact the local rubber market,” he said.

The noon benchmark Malaysian Rubber Board’s official physical price for tyre-grade SMR 20 was 3.5 sen lower at 472.5 sen a kg, while latex-in-bulk slid 0.5 sen to 372 sen a kg.

The 5pm unofficial closing price for tyre-grade SMR 20 eased three sen to 474 sen a kg, and latex-in-bulk was down by one sen to 372 sen a kg. Bernama

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