KUALA LUMPUR, March 10 — Rubber price on the Malaysian rubber market closed lower today in tandem with downtrend on Tokyo Commodity Exchange and Shanghai Futures Exchange (SHFE), said a dealer.
The dealer said the market was relatively quiet with not much demand especially from China, the world’s biggest buyer of rubber.
“The SHFE rubber price dropped following a report of high stockpile of the commodity in China,” said the dealer.
At noon, the Malaysian Rubber Board’s official physical price for tyre-grade SMR20 fell 18.5 sen to 609 sen a kg and latex-in-bulk eased 2.5 sen to 482 sen a kg.
The unofficial closing price for tyre-grade SMR20 decreased 11.5 sen to 606 sen a kg and latex-in-bulk fell three sen to 482 sen a kg.— Bernama
