Rubber market closes lower
Malaysian rubber prices closed lower today due to lack of demand for the commodity, dealers said.
The bearish sentiment was also influenced by lower rubber futures prices on the Tokyo Commodity Exchange.
"The market is quiet, the fundamentals are weak and there is not much change in the prices despite the Kuala Lumpur rubber market opening slightly higher today, compared with yesterday's closing prices," said a dealer.
At noon, the Malaysian Rubber Board's official physical price for tyre-grade SMR 20 was 4.5 sen lower at 736 sen a kg and latex-in-bulk shed three sen to 528.50 a kg.
The unofficial closing price for tyre-grade SMR 20 increased 6.5 sen to 739 sen a kg and latex-in-bulk decreased half-a-sen to 528.50 a kg.-- Bernama