Rubber prices continued its downtrend to close lower, weighed by abundant supply of the commodity, a dealer said.
He said negative sentiments brought about by concerns over demand from China also contributed to the price fall.
According to a report, the country’s official Purchasing Managers’ Index fell to 50.5 in January from 51 in December last year, heightening worries of an economic slowdown.
At noon, the Malaysian Rubber Board’s official physical price for tyre-grade SMR20 declined 4.5 sen to 633.5 sen a kg and latex-in-bulk slipped 1.5 sen to 461 sen a kg.
The unofficial closing price for tyre-grade SMR20 eased 20 sen to 629 sen a kg while latex-in-bulk lost six sen to 459.5 sen a kg.– Bernama
