Rubber

THE Malaysian rubber market closed lower yesterday in line with losses in the regional rubber futures markets.

According to a dealer, investors in the rubber market also reacted negatively to the fall in the global equity markets.

“Tokyo rubber futures dropped today (Friday), sliding from a four-year high in the previous session as investors took profit from the recent rally,” he said.

Nevertheless, further losses were capped by the weaker ringgit against the US dollar as well as the ongoing global vaccination programmes.

At the opening yesterday, the ringgit depreciated to 4.0520/0580 against the US dollar from Thursday’s close of 4.0380/0410.

The Malaysian Rubber Board’s (MRB) reference physical price for SMR 20 eased 16.5 sen to 737.5 sen per kilogramme (kg) while latex-in-bulk slid 7 sen to 688 sen per kg.