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NewsRubber price closes lower
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Rubber price closes lower
by Cals Wed 27 Nov 2013, 21:55
| Rubber price closes lower |
| Business & Markets 2013 |
| Written by Bernama |
| Wednesday, 27 November 2013 17:54 |
They said the fall was due to the unexpected drop in the United States' consumer confidence this month, weakening the demand outlook for the commodity used in tyres.
The fall in the local rubber market was also in tandem with the decline on the Tokyo rubber futures exchange, the dealer said.
At noon, the Malaysian Rubber Board's official physical price for tyre-grade SMR 20 decreased half-a-sen to 728.50 sen a kg and latex-in-bulk slipped one sen to 511.5 sen a kg.
The unofficial closing price for tyre-grade SMR 20 remained unchanged at 729 sen a kg while latex-in-bulk dipped one-and-a-half sen to 511 sen a kg.
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