Rubber price on the Malaysian rubber market closed lower today on lack of clues in the market direction following contradicting trends between Tokyo Commodity Exchange (TOCOM) and Shanghai Futures Exchange (SHFE), a dealer said.
“The rubber market was sheltered from further downfall following positive sentiments brought by a statement from International Rubber Consortium that rubber associations of its member countries, as well as Vietnam, are supporting its call to not sell rubber at prevailing low prices,” said the dealer.
At noon, the Malaysian Rubber Board’s official physical price for tyre-grade SMR20 declined 4.5 sen to 605 sen a kg, and latex-in-bulk slipped 1.5 sen to 476 sen a kg.
The unofficial closing price for tyre-grade SMR20 increased one sen to 606 sen a kg, while latex-in-bulk fell three sen to 475 sen a kg.– Bernama
