Rubber prices mixed in KL but stable in Jakarta

Rubber prices mixed in KL but stable in Jakarta

KUALA LUMPUR (Reuter): Malaysia's rubber market closed mixed yesterday with players watching movements of the ringgit to fix prices while the market drifted aimlessly, traders said.

There was no news of business in the market, although inquiries were reported from China for the SMR20, said the traders.

The SMR20 for September buyer was priced a cent higher at 250.50 cents a kg.

Traders were offering the SMR 20 at 249 cents a kg, the SMR CV at 289 cents, SMR L at 270, SMR 5 at 262, SMR 10 at 250 and drum latex at 192 for Aug/Sept.

In Jakarta, Indonesian rubber prices were mostly stable in midday trading yesterday, with Singapore dealers heard buying ture-grade SIR20, traders said.

They said October rubber was done at 41.50 cents/lb fob Padang late on Tuesday, while business in other centers was slow, due in part to the rupiah's gains against the dollar.

Traders said October SIR20 was offered at 42.00 cents/lb fob Medan, 41.50-41.75 cents fob Palembang, 41.625 cents fob Padang and 41.125 cents fob Surabaya.

In Bangkok, Thai rubber prices eased slightly yesterday in light trade as foreign buyers turned their attention to Indonesian rubber, which has been made more attractive by the sharp decline in the rupiah, traders said.

Thai benchmark RSS3 for October delivery was indicated around 90.00 U.S. cents a kg fob Bangkok compared with 95.00-96.00 from the last week. December was indicated around 95.00 U.S. cents a kg on the same basis against 97.00 previous week, traders said.

In Singapore, rubber futures prices in Singapore ended virtually unchanged Wednesday on higher turnover, dealers said.

Volume for three of the four contracts traded on the Singapore Commodity Exchange Ltd. rose to 10,460 tonnes from 4,825 tonnes a day earlier.

December RSS 1 was last traded at 144.75 Singapore cents, September RSS 3 at 90 U.S. cents and October TSR 20 (FOB) at 90.75 U.S. cents. The TSR 20 contract was not traded.