Rubber prices close sharply lower

Rubber prices closed sharply lower today on stronger ringgit against US dollar, dealers said.

A dealer said other factors were the negative sentiments resulting from the industry data that showed an increase in rubber inventories at Japanese ports and disappointing car sales data from China.

At noon, the Malaysian Rubber Board's official physical price for tyre-grade SMR20 fell 10 sen to 892.5 sen per kg, and latex-in-bulk was 0.5 sen lower at 626.5 sen per kg.

The unofficial closing price for tyre-grade SMR20 slipped 26.5 sen to 875.5 sen per kg, and latex-in-bulk lost two sen to 625.5 sen per kg.-- Bernama