KUALA LUMPUR: The local rubber market closed lower yesterday on weak buying interest after the Thai Government’s sale of half of its rubber stockpile continued to affect the market sentiment, a dealer said.
The dealer said the sale of 50 per cent of the country’s 200,000 tonnes rubber stockpile raised fears of excess supplies in an already well-stocked market.
At the close, the Malaysian Rubber Board’s official physical price for tyre-grade SMR 20 eased 1.5 sen to 508.50 sen a kg while latex-in-bulk eased 1.5 sen to 407.50 sen a kg.
The unofficial closing price of tyre-grade SMR 20 fell three sen to 507 sen a kg and latex-in-bulk decreased 2.5 sen to 406 a kg.
Bernama
