CRUDE palm oil (CPO) futures prices on Bursa Malaysia Derivatives extended their downtrend for the third straight day yesterday following a decline in China's Dalian Commodity Exchange.
January and February decreased RM46 to end at RM3,683 and RM3,679 respectively, while March 2011 declined RM53 to RM3,650. April 2011 was RM61 lower at RM3,613.
Tturnover, however, rose to 25,042 lots from 24,867 lots on Tuesday, while open interest fell to 88,705 contracts from 90,025 contracts previously.
RUBBER
MALAYSIAN rubber prices continued to break records with both the tyre-gred SMR 20 and latex-in-bulk hitting new highs this week, fuelled by positive regional futures markets, dealers said.
At noon, the Malaysian Rubber Board’s official physical seller price for tyre-grade SMR 20 surged 17.5 sen to 1,587.5 sen per kg, the highest level ever since the tyre grade rubber was introduced in 1972, while latex-in-bulk increased four sen to 990.50 sen per kg.
The unofficial seller closing price for tyre-grade SMR 20 rose 26.5 sen to 1,591.5 sen per kg and latex-in-bulk added 8.5 sen to 996 sen per kg.
TIN
TIN price on the Kuala Lumpur Tin Market (KLTM) rose US$30 (US$1.00 = RM3.07) to close at US$26,680 per tonne due to a technical correction, a dealer said.
On the London Metal Exchange (LME), the tin price increased by US$300 to US$26,600 per tonne.
The turnover at the KLTM perked to 50 tonnes from 40 tonnes, with the participation of Japanese, European and local traders.
At the opening bell, buyers bid for 70 tonnes, while sellers offered 55 tonnes. The price differential between the KLTM and the LME narrowed to a premium of US$500 per tonne compared with US$770 per tonne on Tuesday. - Bernama
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