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Thursday, August 11, 2022

Malaysia: Rubber market closes higher

Rubber prices ended higher today on a further weakening of the ringgit against the US dollar, said a dealer.

The dealer said the uptrend in local rubber prices was also in tandem with that of the Tokyo Commodity Exchange, resulting from the weaker yen, and supported by the upcoming low-production season as well as strong China motor-vehicle sales.

At noon, the Malaysian Rubber Board’s official physical price for tyre-grade SMR 20 added eight sen to 714 sen a kg, while latex-in-bulk edged up three sen to 478 sen a kg.

The unofficial closing price for tyre-grade SMR 20 was seven sen

higher at 714.50 sen a kg, while latex-in-bulk inched up 3.5 sen to 479.50 sen a kg.

The market will be closed tomorrow for the Thaipusam public holiday.– Bernama

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