KUALA LUMPUR: The Malaysian rubber market closed lower yesterday on weak buying after the Thai government cleared half of the country’s stockpile.
A dealer said the Thai authority had sold 50 per cent of the country’s 200,000 tonne rubber stockpile to a Thai rubber exporter and aimed to sell the rest by the end of this month.
However, the dealer said the sale of half the stockpile should ease pressure on prices in coming weeks despite fine weather in Thailand is about to boost rubber supply.
At close, the Malaysian Rubber Board’s official physical price for tyre-grade SMR 20 added one sen to 510 sen a kg while latex-in-bulk eased 0.5 sen to 409 sen a kg.
The unofficial closing price of tyre-grade SMR 20 and latex-in-bulk decreased 0.5 sen each to 510 a kg and 408.5 sen a kg respectively. Bernama
