Rubber prices close lower due to mild buying interest
UPDATED @ 06:14:48 PM 25-05-2012
KUALA LUMPUR, May 25 — Rubber prices in the local rubber market continued to trade lower today due to mild buying support, dealers said. They said the demand for commodities globally were hampered by continued wariness about the eurozone debt saga.
"Despite the current tight rubber supply, local traders were still hesitant to take any major move although the benchmark Tokyo rubber contract managed to edge higher today," they said.
At noon, the Malaysian Rubber Board's official physical price for tyre-grade SMR 20 lost 11 sen to 1,000.5 sen a kg while latex-in-bulk slipped four sen to 717.5 sen a kg.
The unofficial closing price for tyre-grade SMR 20 shed five sen to 998.0 sen a kg and latex-in-bulk slid two sen to 716.5 sen a kg. — Bernama