Malaysian rubber prices closed lower today on lack of demand for the commodity, dealers said.
They said the fall is due to a forecast that the global surplus of rubber will widen through 2015 as production increases.
The fall in the local rubber market was also in tandem with the
decline on the Tokyo rubber futures exchange, a dealer said.
At noon, the Malaysian Rubber Board’s official physical price for tyre-grade SMR 20 decreased 9 sen to 729 sen a kg, and latex-in-bulk slipped one sen to 512.5 sen a kg.
The unofficial closing price for tyre-grade SMR 20 fell 6.5 sen to 729 sen a kg, while latex-in-bulk dipped one sen to 512.5 sen a kg.– Bernama
