KUALA LUMPUR (May 23): The Malaysian rubber market closed mixed, taking the cue from the lower closing on the benchmark Tokyo Commodity Exchange on a stronger yen, a dealer said.
He said that market sentiments were still affected by the poor Chinese economic data, which would continue to reduce demand and result in higher stockpiles.
He told Bernama that the coup in Thailand has also brought about market uncertainties. The market is awaiting a decision by the new government on their policy for the commodity and on their plan to offload more than 200,000 tonnes of the state’s stockpile.
The strengthening ringgit against the US dollar was also not supporting the market, he added.
At close, the Malaysian Rubber Board’s official physical price for tyre-grade SMR 20 slipped three sen to 545 sen a kg at noon, while latex-in-bulk added 1.5 sen to 462.5 sen a kg.
The unofficial closing price for tyre-grade SMR 20 was 3.5 sen lower at 543 sen a kg, while latex-in-bulk remained at yesterday’s 462 sen a kg.
Malaysia: Rubber market closes mixed
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