KUALA LUMPUR – The Malaysian rubber market closed lower today, dragged down by losses in regional rubber futures markets.
A dealer said the negative sentiment was also brought on by concerns over rising Covid-19 infections.
He said weaker oil prices also affected demand for the commodity.
At press time, the global benchmark Brent crude oil was down 1.06 per cent at US$43.07 per barrel.
The Malaysian Rubber Board’s (MRB) reference physical price for SMR 20 declined by five sen to 638.5 sen per kilogramme (kg), while latex-in-bulk dropped by nine sen to 594 sen per kg.
At 5 pm, the MRB’s closing price for SMR 20 stood at 638 sen per kg, while latex-in-bulk stood at 589 sen per kg. – Bernama, November 13, 2020
