The Malaysian rubber market closed lower today, due to a weaker yen and poor demand from the world’s largest consumer China, which weighed on prices.
A dealer said China had stopped importing natural rubber and was consuming locally-produced rubber to reduce its stockpile.
Meanwhile, at noon, the Malaysian Rubber Board’s official physical price for tyre-grade SMR 20 shed 5.5 sen at 699 sen a kg, while latex-in-bulk slipped 2.5 sen to 539.50 sen a kg.
The unofficial sellers’ closing price for tyre-grade SMR 20 fell five sen to 702 sen a kg, while latex-in-bulk declined four sen to 537.50 sen per kg.– Bernama
