The Malaysian rubber market continued to close lower today on weaker demand in line with declines in the Tokyo Commodity Exchange and the Shanghai Futures Exchange.
A dealer said the rubber markets, both local and global, were negatively affected by further decline in crude oil prices as well as worries over rubber demand from the world’s top consumer, China.
At the close, the Malaysian Rubber Board’s official physical price for tyre-grade SMR 20 fell nine sen to 495 sen a kg and latex-in-bulk eased a sen to 398 sen a kg.
The unofficial closing price for tyre-grade SMR 20 slipped 12 sen to 488.5 sen a kg, while latex-in-bulk decreased 1.5 sen to 397.5 sen a kg.