The Malaysian rubber prices closed lower today due to the stronger ringgit against the US dollar amid continuous
downtrend in crude oil prices, a dealer said.
He said traders reported that despite the inventory overhang in China, demand still exists and the market downtrend was due to negative sentiment from the foreign exchange and crude oil markets, which had caused volatility and affected trade.
Meanwhile, he said most of the foreign buyers had remained on the sidelines as the Shanghai market was closed due to a public holiday in China.
On the local front, the Malaysian Rubber Board’s official physical price for tyre-grade SMR 20 slipped three sen to 787 sen a kg at noon today from Thursday’s 790 sen a kg, while latex-in-bulk lost five sen to 595 sen a kg from 600 sen a kg yesterday.
cial closing price for tyre-grade SMR 20 declined 28 sen to 764 sen a kg from 792 sen a kg while latex-in-bulk dropped 5.5 sen to 591.5 sen a kg from 597 sen a kg previously.– Bernama
