mild selling despite strong export data yesterday.
“The healthy
numbers could not support the market as it came within market
expectations,” a dealer said, adding that the stronger ringgit dampened
sentiment as well.
He said the stronger local currency against
the US dollar made the commodity unattractive for both hedge funds and
importers.
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June 2010 decreased RM20 to settle at RM2,499 a tonne while July 2010
fell to RM25to RM2,475. August 2010 dipped RM21 to RM2,436 and
September 2010 depreciated RM28 to RM2,401.
Volume went down to
9,540 lots from the 9,667 lots recorded last Thursday while open
interest was 70,020 contracts, lower than the 70,974 previously.
On
the physical market, June South was lower at RM2,550 compared to last
Thursday’s RM2,560 a tonne.
Source : Business Times
