Malaysian rubber prices closed higher today, spurred by buying interest in the commodity, a dealer said.
The performance of the local market was also in line with the uptrend in rubber prices on the Tokyo Commodity Exchange, resulting from the weaker yen, the dealer added.
“However, prices are likely to remain in a narrow range pending the outcome of the ongoing US Federal Reserve meeting,” he told Bernama.
At noon, the Malaysian Rubber Board’s official physical price for tyre-grade SMR 20 rose 5.5 sen to 728 sen a kg, and latex-in-bulk added one sen to 526 sen a kg.
The unofficial closing price for tyre-grade SMR 20 went up six sen to 730 sen a kg, and latex-in-bulk gained one sen to 526 sen a kg.– Bernama