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Commodities  |  JANUARY 29, 2016 9:14AM

Rubber market closes lower

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A farmer collects latex at a rubber plantation in Buon Ma Thuot CityThe Malaysian rubber market continued its downtrend today following the strengthening of the ringgit against US dollar, a dealer said.

At 5pm, the local currency was higher at 4.1500 from 4.2040 against the greenback on Thursday.

The lower rubber market was also in line with the poor performances on the Tokyo Commodity Exchange and The Shanghai Futures Exchange market, he said.

On the home front, the Malaysian Rubber Board’s official physical price for tyre-grade SMR 20 declined 5 sen to 445.5 sen a kg, while latex-in-bulk fell 3 sen to 369 sen a kg.

The 5pm unofficial closing price for SMR 20 declined 6.5 sen to 444.5 sen a kg, while latex-in-bulk decreased 3 sen to 367.5 sen a kg.



 
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