CPO futures end marginally higher - Business Times

CPO FUTURES

CRUDE palm oil futures contracts on Bursa Malaysia Derivatives closed slightly higher yesterday amid the uptrend in soyabean prices in US market and the Dalian Commodity Exchange, dealers said.

March 2011 jumped RM11 to RM3,737, April 2011 climbed RM11 to RM3,718, May 2011 rose RM13 to RM3,669 and June 2011 added RM23 to RM3,625.

Turnover increased to 29,573 lots from 25,633 lots on Monday, while open interest rose to 111,542 contracts from 111,250 contracts previously.


On the physical market, March South increased to RM3,750 per tonne from RM3,740 per tonne previously.

RUBBER

THE Malaysian rubber market closed mixed yesterday as buyers stayed on the sidelines amid the bearish sentiment following the easier Tokyo Commodity Exchange Market, a dealer said.

At noon, the Malaysian Rubber Board’s official physical price for tyre-grade SMR 20 declined by 24 sen to 1,696 sen per kg while latex-in-bulk added 4.5 sen to 1,095 sen per kg.

The unofficial sellers’ closing price for tyre-grade SMR 20 decreased by 35.5 sen to 1,675.50 sen per kg and latex-in-bulk added 1 sen to 1,094.50 sen per kg.

TIN

THE tin price on the Kuala Lumpur Tin Market (KLTM) closed unchanged at US$32,400 (US$1.00 = RM3.04) per tonne yesterday despite an uptrend on the London Metal Exchange (LME), dealers said.

The LME, which usually sets the trend for the tin price, saw the metal price rise by US$50 to US$32,400 per tonne. On the local front, turnover was flat at 55 tonnes.

According to the dealers, the market traded in a steady manner with demand coming from European, Japanese and local traders.

At the opening level, buyers bid for 60 tonnes while offers totalled 55 tonnes. The price differential between the KLTM and LME narrowed to US$465 per tonne from US$515 per tonne previously. - Bernama