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Thursday, July 7, 2022

Malaysia: Rubber mostly higher on continued buying

KUALA LUMPUR: Malaysian rubber prices closed mostly higher yesterday on continued buying momentum for the commodity on the back of a weaker ringgit, a dealer said.

He also said the local market performance was in sync with the rise in the Tokyo Commodity Exchange’s rubber futures, following the increase in the prices of crude oil and base metals.

The noon benchmark Malaysian Rubber Board’s official physical price for tyre-grade SMR 20 rose 2.5 sen to 457.5 sen a kg while latex-in-bulk shed one sen to 371 sen a kg.

The 5pm unofficial closing price for tyre-grade SMR 20 increased 4.5 sen to 459 sen a kg while latex-in-bulk was unchanged at 371 sen a kg.

The local market was closed on Monday for Hari Raya AidilAdha .

– Bernama

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