RUBBER MARKET CLOSES LOWER

12 Jul 2013 11:19

KUALA LUMPUR, July 5 (Bernama) -- The Malaysian rubber market ended lower in quiet trading for the third day this week as Chinese demand dwindled as the country faced rising stocks, dealers said.

They said the market also moved in tandem with the lower Tokyo rubber futures market which succumbed to profit taking.

"Some market players are adopting a wait-and-see attitude ahead of US employment data expected to be released next week," a dealer said.

At noon, the Malaysian Rubber Board's official physical price for tyre-grade SMR 20 gained 5.5 sen to 710 sen a kg and later-in-bulk shed 0.5 sen to 533 sen a kg. The unofficial sellers' closing price for tyre-grade SMR 20 eased 4.5 sen to 706 sen a kg and latex-in-bulk dropped two sen to 532.5 sen a kg.

-- BERNAMA

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