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Friday, March 24, 2023

Malaysia: Rubber mart closes higher

KUALA LUMPUR: The Malaysian rubber market closed higher today supported by the strenghtening of the ringgit against the US dollar, dealers said.

A dealer said the rubber prices were higher today also due to the expansion in China’s factory activities in June, the first time in six months as new orders surged.

“The activities offered new signs of economic stabilisation as a result of the government’s measures to shore up growth, and have curbed further falls in the rubber market,” he added.

At the close, the Malaysian Rubber Board’s official physical price for tyre-grade SMR 20 increased 4.5 sen to 568.50 sen a kg and latex-in-bulk rose one sen to 468 sen a kg.

The unofficial closing price for tyre-grade SMR 20 was unchanged at 568.50 sen a kg while latex-in-bulk gained one sen to 467.50 sen a kg.– Bernama

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