Malaysian rubber prices closed lower for the fourth consecutive day this week with buyers sidelined due to a lack of fresh leads, a dealer said.
She said the downtrend was also in tandem with the Singapore Exchange (SGX) and Shanghai Futures Exchange (SHFE) and other world stock markets which dipped on Wednesday.
“There are growing worries over some emerging markets due to escalating tensions in Ukraine, which has sent the Russian Ruble to a five-year low, while
equities on Wall Street ended flat,” she added.
At noon, the Malaysian Rubber Board’s official physical price for tyre-grade SMR20 declined 6.5 sen to 589 sen a kg, and latex-in-bulk slipped two sen to
476.5 sen a kg.
The unofficial closing price for tyre-grade SMR20 shed 5.5 sen to 590.5 sen a kg, while latex-in-bulk fell 3.5 sen to 474.5 sen a kg.
Source: Business Times
Published: 27 Feb 2014