CRUDE palm oil futures prices on Bursa Malaysia Derivatives ended easier yesterday after a drop in China's Dalian Commodity Exchange, a dealer said.
He said the market was also surprised by the not-so-bullish data released by two cargo surveyors and the Malaysian Palm Oil Board earlier yesterday.
January 2011 fell RM25 to end at RM3,775 per tonne, February 2011 eased RM29 to RM3,771, March 2011 declined RM33 to RM3,730 and April 2010 was RM39 lower at RM3,696.
RUBBER
MALAYSIAN rubber prices retreated to close slightly lower yesterday, taking a breather after the recent massive rally, a dealer said.
He said the downtrend was limited as tyremakers are still buying the commodity due to increasing orders from automotive makers, especially those from China.
At noon, the Malaysian Rubber Board’s official physical seller price for tyre-grade SMR 20 declined 1.5 sen to 1,551 sen a kg and latex-in-bulk decreased 2.5 sen at 982.50 sen a kg.
The unofficial seller closing price for tyre-grade SMR 20, however increased 3.5 sen to 1,555 sen a kg, while latex-in-bulk rose 1.5 sen to 984 sen a kg.
TIN
TIN price on the Kuala Lumpur Tin Market (KLTM) rose slightly by US$50 (US$1.00 = RM3.08) to close at US$26,550 per tonne yesterday on technical correction, dealers said.
This was due to a higher premium of US$670 per tonne recorded last Friday, they said.
On the London Metal Exchange (LME), the tin price increased by US$250 to US$26,500 per tonne.
Turnover at the KLTM was unchanged at 35 tonnes, with the participation of Japanese, European and local traders. At the opening bell, buyers bid for 45 tonnes, while sellers offered 35 tonnes.
The premium between the KLTM and the LME narrowed to US$470 per tonne from last Friday's US$670 per tonne. — Bernama
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