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Saturday, August 13, 2022

Malaysia: Up on better demand

KUALA LUMPUR: Local rubber prices closed higher yesterday on improved demand prospects and the weakening ringgit, dealers said.

“Prices on the local rubber market were higher following positive sentiment in the wake of unexpectedly strong US jobs data and positive economic data from China over the weekend,” a dealer said.

At noon, the Malaysian Rubber Board’s official physical price for SMR 20 rose eight sen to 735.5 sen a kg, and latex-in-bulk added half a sen to 522 sen a kg.

The unofficial closing price for SMR 20 rose eight sen to 736 sen, while latex-in-bulk rose 1.5 sen to 521.5 sen.

Source: Bernama

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