KUALA LUMPUR: The Malaysian rubber market continued to close mixed for the second consecutive day despite the decline on the Tokyo Commodity Exchange (TOCOM) and Shanghai Futures Exchange (SHFE), dealers said.
A dealer said the lower ringgit, the downtrend in crude oil prices coupled with the sale of rubber from Thailand’s stockpile pressured prices.
“The Thai military government sold half of the country’s 200,000 tonnes rubber stockpile to a leading exporter and targeted to sell the remaining by end-September,” he said.
Another dealer said the sale would lessen the pressure on prices when rubber supply picks up with conducive weather in the forthcoming weeks.
At close, the Malaysian Rubber Board’s official physical price for tyre-grade SMR 20 added one sen to 509 sen a kg while latex-in-bulk eased 1.5 sen to 409.50 sen a kg.
The unofficial closing price of tyre-grade SMR 20 added one sen to 511.50 sen a kg and latex-in-bulk increased 0.5 sen to 410 sen a kg.– Bernama
