The Malaysian rubber market closed lower lower today in tandem with the sentiment on the Tokyo rubber futures exchange.
Dealers said buying interest was swayed by the weakening ringgit against the US dollar coupled with concerns that the US Federal Reserve would wind down its easy-money policies.
“However, the decline was limited by a report that China’s rubber stockpile at the Qingdao port was reducing steadily,” he said.
At noon, the Malaysian Rubber Board’s official physical price for tyre-grade SMR20 was 3.5 sen lower at 781.5 sen a kg while latex-in-bulk added one sen to 536 sen a kg.
The unofficial closing price for tyre-grade SMR20 declined nine sen to 775 sen a kg and latex-in-bulk dropped one sen to 534.5 sen a kg.– Bernama
