Malaysia: Rubber prices flat on stronger ringgit

Malaysian rubber prices closed unchanged today due to the strengthening of the ringgit against the US dollar, dealers

said.

The trend however contradicted with the higher prices on Tokyo Commodity Exchange (TOCOM) which rose more than five per cent to a three-week high as the market re-opened after a four-day break.

“Prices on TOCOM are playing catch-up with the rally in global stock markets on strong US jobs data,” the dealer said.

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TOCOM was closed between May 3 and May 6 for the Golden Week holiday.

At noon, the Malaysian Rubber Board’s official physical price for tyre-grade SMR 20 remained at yesterday’s close of 763.5 sen a kg, while latex-in-bulk rose 0.5 sen to 586.5 sen a kg.

The unofficial sellers’ closing price for tyre-grade SMR 20 declined seven sen to 756.5 sen a kg, and latex-in-bulk was unchanged at 586 sen a kg.– Bernama