KUALA LUMPUR: The Malaysian rubber market closed lower yesterday in line with the benchmark Tokyo Commodity Exchange (TOCOM) and the stronger ringgit versus the US dollar, a dealer said.
He said the TOCOM rubber futures declined to a one-week low yesterday taking the cue from the fall in Japanese equities and the firmer yen.
Concerns over rising supply following the Thai government’s decision to sell 200,000 tonnes of rubber stockpile had also weighed on the price, he added.
At the close, the Malaysian Rubber Board’s official physical price for tyre-grade SMR 20 fell four sen to 518 sen a kg, while latex-in-bulk dipped 2.5 sen to 415 sen a kg.
The unofficial closing price for tyre-grade SMR 20 fell six sen to 516 sen a kg and latex-in-bulk slid 4.5 sen to 413 sen a kg.
– Bernama
