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Thursday, October 21, 2021

Malaysia: Rubber closes higher on positive sentiment

The Malaysian rubber market closed higher today supported by positive sentiment brought about by China’s manufacturing data, dealers said.

They said besides the rally in the US share market last week, an increase in crude oil prices resulting from the political tension in the Middle East also supported local sentiment.

At noon, the Malaysian Rubber Board’s official physical price for tyre-grade SMR 20 was eight sen higher at 800 sen a kg and latex-in-bulk added two sen to 538.5 sen a kg.

The unofficial closing price for tyre-grade SMR 20 gained 12.5 sen to 805 sen a kg and latex-in-bulk rose 5.5 sen to 542 sen a kg.– Bernama

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