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JAKARTA: Indonesian rubber prices were unchanged in the late session, with no known transactions, as buyers were seen sidelined on market talk of a possible drop in SIR20 prices, dealers said.
"The expected large purchases from China which have not been realised until now has made most sellers cautious," one dealer in the north Sumatran city of Medan said.
Dealers said some sellers were seen lowering their offering prices to around 54.00-54.50 US cents/Ib from 55.00 US cents/lb but not deals were heard.
KUALA LUMPUR: Rubber prices were mixed at the close, with SMR20 extending gains on prospects of further Chinese covering, dealers said.
They said supply tightness due to rain in some growing areas and strong gains in Tokyo also helped maintained prices.
"Although the Chinese bought quite a lot last week, I don't think their covering activities are over," said a senior dealer. "They are still checking prices although they have yet to buy this week."
Dealers said the market may see some consolidation after the strong run.
September SMR20 buyer closed up 2.50 cents at 303.50 cents ($1.22) a kg while September RSS1 buyer was down a cent at 319.50 cents ($1.28) a kg.
INRO five-day moving average price for Aug 15 was 240.40 Malaysian/Singapore cents a kg against 239.51 for Aug 14. The daily indicator price was 241.13 cents versus 241.45.-Reuter
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