KUALA LUMPUR (May 05): The Malaysian rubber market closed mixed, supported by mild demand for the commodity, a dealer said.
Thailand’s plan to offload more than 200,000 tonnes of natural rubber stocks, led to the bearish sentiment across regional rubber futures markets.
Reportedly, the world’s largest producer of natural rubber decided to sell its stocks, before accumulating fresh inventories later this month.
The dealer also said that tight supply in the local market, somehow helped to mitigate and cap prices from drifting further.
The Malaysian Rubber Board’s official physical price for tyre-grade SMR 20, slipped 2.5 sen to 557 sen a kg at noon, while latex-in-bulk added three sen to 455 sen a kg.
The unofficial closing price for tyre-grade SMR 20 was six sen lower at 553.5 sen a kg, while latex-in-bulk increased 1.5 sen to 456 sen a kg.
– Bernamar
