Malaysian rubber market eases on strong ringgit

Malaysian rubber market

Malaysian rubber prices closed lower for the fifth consecutive day today on further strengthening of the ringgit against the US dollar.
A dealer said the local prices were also pressured by weaker economic data from China — the world’s second-largest economy.

At noon, the Malaysian Rubber Board’s official physical price for tyre-grade SMR 20 fell four sen to 581 sen a kg while latex-in-bulk was seven sen lower at 483 sen a kg.

The unofficial closing price for tyre-grade SMR 20 eased 1.5 sen to 577 sen a kg while latex-in-bulk fell 2.5 sen to 481 sen a kg.