KUALA LUMPUR: The local rubber market closed sharply lower yesterday and in line with the decline on the Tokyo Commodity Exchange (TOCOM) and the Shanghai Futures Exchange (SHFE).
A dealer said besides a stronger ringgit and the downtrend in crude oil price, the market reacted negatively over a report on the high stockpile in China.
At close, the Malaysian Rubber Board’s official physical price for tyre-grade SMR 20 fell 6.5 sen to 513 sen a kg, while latex-in-bulk dipped 5.5 sen to 421 sen a kg.
The unofficial closing price for tyre-grade SMR 20 fell 6.0 sen to 512 sen a kg and latex-in-bulk slid 2.5 sen to 423.0 sen a kg.Bernama
