KUALA LUMPUR, Nov 18: Malaysian crude palm oil futures ended steadier after see-sawing on Friday, and dealers said fresh leads were needed for the market to rise.
The third-month crude palm oil contract on Bursa Malaysia Derivatives, February, closed up one ringgit at 1,418 ringgit ($375.23) a ton.
It had moved in a range of 1,409-1,420 ringgit, staying firm in the morning, weakening in the afternoon and rebounding just before the close.
Dealers had said on Thursday that 1,400 ringgit support might be broken when the February contract moved as low as 1,403.
Friday’s futures trade was also thinner than Thursday’s, with a total volume of 4,200 lots of 25 tons each, compared with the previous tally of 5,402 lots.
The market can easily surpass 6,000 lots on a busy day.
Trades were reported at 1,405 to 1,415 ringgit in the southern region of Malaysia—Reuters
