China buys SMR20 rubber at lowest prices since late 2009


SINGAPORE, June 27 (Reuters) - China bought several cargoes of Malaysian rubber after prices plunged to their weakest in more than two years, raising hopes the world's largest consumer will step up purchases and turn to other grades too, dealers said on Wednesday.

SMR20 was sold to China in a series of overnight deals at $2.83 to $2.84 a kg, free on board, for August shipment - the lowest prices since at least December 2009. Indonesian SIR20, currently at four-year lows, was sold at around $2.78 a kg to dealers in Singapore, who normally ship the grade to China. (Reporting by Lewa Pardomuan; Editing by Himani Sarkar)



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