The Malaysian rubber market ended lower for the first time in four days this week over weak economic data from China which raised fears of falling demand for the commodity.
A dealer said the negative sentiment was also felt in the Tokyo Commodity Exchange which reeled under the pressure of a firmer yen.
However, the decline was capped on expectation that supply would suffer a setback from major rubber producing countries because of the ongoing drought.
Malaysian Rubber Board’s official physical price for tyre-grade SMR20 shed four sen to 628 sen a kg but latex-in-bulk remained unchanged at 500 sen a kg.
The unofficial closing price for tyre-grade SMR20 eased three sen to 625 sen per kg while latex-in-bulk dipped 0.5 sen to 500 sen a kg.
Source: Malay Mail Online
Published: 27 Mar 2014