Rubber ends little changed

Rubber ends little changed

KUALA LUMPUR (Reuters): The Malaysian rubber market ended the week little changed as consumers refused to deal in the wake of uncertainty in currency movements and poor demand, dealers said.

By the close, the Malaysian Rubber Board said July Int. Ones RSS buyer eased half a cent to 274.50 cents (68 U.S. cents) a kg and July SMR 20 buyer was down a cent at 249.50.

"Dealing was extremely dull. There was nothing much going on due to uncertainty in ringgit," said a dealer at a trading house, adding that players preferred to wait as the INRO five-day average price moved close to the "may-buy" level.

The INRO five-day moving average price dropped further to 183.28 Malaysian/Singapore cents a kg on June 25 from 184.13 on June 24. The daily indicator price was 181.87 against 181.31.

Dealers said buyers are refraining from taking up large positions as local prices are still higher compared with those in Indonesia.