KUALA LUMPUR (April 25): The Malaysian rubber market closed mixed to lower, despite the easier performance on the Tokyo Commodity Exchange, a dealer said.
He said, lack of direction, coupled with China’s absence from the market, was weighing on sentiment.
“However, this trend is not expected to persist, as traders anticipate the market to rebound, as China would return to make fresh purchases.
“The recent sell-off has driven prices below that of synthetic rubber,” the dealer added.
The Malaysian Rubber Board’s official physical price for tyre-grade SMR 20, was one sen higher at 552 sen a kg at noon, while latex-in-bulk was down by the same margin at 451 sen a kg.
The unofficial closing price for tyre-grade SMR 20 remained flat at yesterday’s 552 sen a kg, while latex-in-bulk shed two sen to 450 sen a kg.
-Bernama
