CRUDE palm oil futures prices on Bursa Malaysia Derivatives closed slightly higher yesterday, tracking the uptrend in soyaoil prices on the Chicago Board of Trade, dealers said.
February rose RM2 to RM3,750 a tonne, March increased RM5 to RM3,725, April improved RM15 to RM3,685 and May gained RM26 to RM3,635.
Turnover improved to 25,648 lots, from 21,679 lots on Wednesday, while open interest increased to 89,880 contracts from 87,641 previously.
RUBBER
RUBBER prices ended mixed yesterday as market players continued to be sidelined ahead of the Chinese New Year holidays next week, dealers said.
At noon, the Malaysian Rubber Board’s official physical price for tyre-grade SMR 20 eased 2 sen to 1,648.5 sen a kg from 1,650.5 sen on Wednesday while latex-in-bulk eased 3.5 sen to 1,025.5 sen from 1,029 sen previously.
The unofficial seller closing price for tyre-grade SMR 20 rose 14.5 sen to 1,657 sen compared to 1,642.5 sen on Wednesday while latex-in-bulk rose 3.5 sen to 1,027 sen a kg from 1,023.5 sen a kg previously.
TIN
THE Kuala Lumpur Tin Market (KLTM) continued its upward momentum for the fourth consecutive day to close US$501 (US$1.00 = RM3.05) higher at US$28,500 per tonne yesterday, a dealer said.
He said the local tin market was tracking the firmer metal on the London Metal Exchange (LME overnight, which surged US$430 to US$28,625 a tonne.
Although strong buying was noted for the commodity internationally, local sellers are still reluctant to off load stocks in anticipation of even higher prices.
At the opening bell, bids amounted to 150 tonnes while offers stood at 40 tonnes.
Turnover on the KLTM was up at 80 tonnes from the 60 tonnes on Wednesday, Japanese, European and local traders accounting for the bulk of yesterday's turnover.
Meanwhile, the premium between the KLTM and LME widened to US$295 per tonne from US$200 a tonne previously. - Bernama
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