The Malaysian rubber prices closed lower Tuesday in line with the downtrend in Tokyo Commodity Exchange (TOCOM), a dealer said.
The dealer said this was due to the concerns over the US factory activity which grew at the slowest rate, suggesting the world’s biggest economy had lost some momentum at the end of the first quarter.
Meanwhile, the three major rubber producing countries — Thailand, Indonesia and Malaysia, will meet in Phuket on April 10-12 to discuss the extension of Agreed Export Tonnage Scheme (AETS) as measures to stabilise the rubber prices.
At noon, the Malaysian Rubber Board’s official physical price for tyre-grade SMR 20 shed 14.5 sen to 809 sen a kg from Monday’s 823.5 sen a kg, while latex-in-bulk lost five sen to 608 sen a kg from 613 sen a kg yesterday.
The unofficial closing price for tyre-grade SMR 20 fell 9.5 sen to 806 sen a kg from 815.5 sen a kg yesterday and latex-in-bulk slipped four sen to 606.5 sen a kg from 610.5 sen a kg previously.– Bernama
