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Wednesday, January 19, 2022

Malaysia: Rising demand for natural rubber drives market up

KUALA LUMPUR, Dec 9 — Rubber prices closed higher today amid positive sentiments in the market, boosted by the data from China indicating that demand for natural rubber was rising, a dealer said.

The top rubber buyer’s rubber import had surged to a record of 270,000 tonnes last month, the dealer said.

The dealer said positive sentiments in the local rubber market were in tandem with the uptrend in the commodity’s price on the Tokyo Commodity Exchange.

At noon, the Malaysian Rubber Board’s official physical price for tyre-grade SMR 20 surged 11.5 sen to 752 sen a kg, while latex-in-bulk increased by 4.5 sen to 528 sen a kg.

The unofficial closing price for tyre-grade SMR 20 rose 9.5 sen to 754.5 sen a kg while latex-in-bulk went up 6.5 sen to 531.5 sen a kg. — Bernama

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