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Commodities  |  JANUARY 28, 2016 9:38AM

Rubber market closes lower

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Kanchana Jan-on and Chalermsak Pinyakom collect rubber on a rubber plantation in Phunpin, Surat ThaniThe Malaysian rubber market closed lower today in line with regional futures markets coupled with the stronger ringgit against the US dollar, a dealer said.

“It was reported that Tokyo Commodity Exchange futures were steady after the US Federal Reserve kept interest rates unchanged, while market operators turned their focus to a two-day policy meeting by the Japanese central bank later,” he said.

At 5pm, the local currency was quoted at 4.2040 from 4.2530 against the greenback on Wednesday.

On the home front, the Malaysian Rubber Board’s official physical price for tyre-grade SMR 20 declined 7.5 sen to 450.5 sen a kg, while latex-in-bulk fell 3 sen to 372 sen a kg.

The 5pm unofficial closing price for SMR 20 declined 5.5 sen to 451 sen a kg, while latex-in-bulk decreased 2.5 sen to 370.5 sen a kg.



 
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