Rubber price closed lower today in tandem with lower prices on the Tokyo Commodity Exchange (TOCOM) following the stronger yen against the US dollar.
Dealers said the slowing demand from the top buyer China also caused investor sentiment.
Meanwhile, market players remained on the sidelines, awaiting for the outcome of the meeting of the US Federal Open Market Committee later this week.
At noon today, the Malaysian Rubber Board’s official physical price for tyre-grade SMR 20 dipped 15 sen to close at 707 sen a kg while latex-in-bulk declined 6.5 sen to 525.50 sen a kg.
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The unofficial sellers closing price for tyre-grade SMR 20 lost 15 sen to 704 sen a kg and latex-in-bulk fell 8.5 sen to 523.50 sen a kg.– Bernama
