CRUDE palm oil futures prices on Bursa Malaysia Derivatives ended higher on short-covering activities ahead of the weekend, dealers said yesterday.
February rose RM15 to RM3,765 per tonne, March increased RM18 to RM3,743, April improved RM15 to RM3,700 and May gained RM16 to RM3,651.
Turnover decreased to 16,934 lots from 25,648 lots on Thursday while open interest increased to 92,488 contracts from 89,880 contracts previously.
RUBBER
RUBBER prices ended mixed yesterday amid profit-taking activities ahead of the Federal Territory and Chinese New Year holidays next week, a dealer said.
At noon, the Malaysian Rubber Board official physical price for tyre-grade SMR 20 rose 1 sen to 1,649.5 sen a kg compared with 1,648.5 sen on Thursday while latex-in-bulk eased 1 sen to 1,024.5 sen a kg from 1,025.5 sen previously.
Meanwhile, the unofficial seller closing price for tyre-grade SMR 20 dropped 10.5 sen to 1,646.5 sen a kg compared with 1,657 sen on Thursday while latex-in-bulk eased 3.5 sen to 1,023.5 sen a kg from 1,027 sen previously.
TIN
THE tin price on the Kuala Lumpur Tin Market (KLTM) continued its winning streak to a fifth consecutive day and ended US$700 (US$1.00 = RM3.05) higher at US$29,200 per tonne, a dealer said.
He said the local tin market was firmer on the back of strong demand for the commodity globally. Meanwhile, the overnight metal price on the London Metal Exchange (LME), surged US$500 to US$28,125 a tonne.
The dealer said demand was strong for the commodity but tight supply continues to push prices higher.
At the opening bell, bids amounted to 150 tonnes while offers stood at 20 tonnes. Turnover on the KLTM was down at 45 tonnes from the 80 tonnes on Thursday with Japanese, European and local traders dominating the bulk of yesterday's trading.
Meanwhile, the premium between the KLTM and LME widened to US$495 per tonne from US$295 per tonne previously.
The local tin market will only be open on Monday and Wednesday next week. — Bernama
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