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Wednesday, May 18, 2022

Malaysia: Rubber market closes higher

KUALA LUMPUR: Rubber prices closed higher today, lifted by positive sentiment brought on by China’s December manufacturing data, said a dealer.

The dealer said the better-than-expected Chinese manufacturing data is likely to raise demand for the commodity from the world’s largest rubber consumer.

Meanwhile, higher prices on the local rubber market was also in tandem with the Tokyo Commodity Exchange, even as adverse weather hit supply.

At noon, the Malaysian Rubber Board’s official physical price for tyre-grade SMR 20 rose 6.5 sen to 760.0 sen a kg, while latex-in-bulk increased 3.5 sen to 550.5 sen a kg.

The unofficial closing price for tyre-grade SMR 20 inched up 0.5 sen to 756.5 sen a kg, while latex-in-bulk gained 4.5 sen to 552.5 sen a kg. — Bernama

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