Malaysian rubber prices closed lower today due to lack of demand for the commodity, dealers said.
The bearish sentiment was also influenced by lower rubber futures prices on the Tokyo Commodity Exchange.
“The market fundamental is weak and prices are heading downwards,” said dealer.
At noon, the Malaysian Rubber Board’s official physical price for tyre-grade SMR 20 was 14.5 sen lower at 742.50 sen a kg and latex-in-bulk shed two-and-a-half sen to 534.50 a kg.
The unofficial closing price for tyre-grade SMR 20 dropped 8.50 sen to 740 sen a kg and latex-in-bulk decreased one sen to 534.50 a kg.– Bernama
