The Malaysian rubber market closed higher Tuesday due to the bird flu outbreak in China, a dealer said.
He said there has been increased demand for healthcare rubber gloves as a result of the deadly disease.
“This outbreak will benefit the entire rubber gloves sector, and the orders will continue to rise, especially from China and India,” he said.
The higher rubber price today was in tandem with the key Tokyo Commodity Exchange (TOCOM) which rose more than three per cent to a two-week high, bolstered by the fall in the yen to a multi-year low versus the dollar.
On the local front, the Malaysian Rubber Board’s official physical price for tyre-grade SMR 20 soared 23.5 sen to 790 sen a kg at noon, while latex-in-bulk gained three sen to 595 sen a kg.
The unofficial closing price for tyre-grade SMR 20 rose six sen to 785.5 sen a kg while latex-in-bulk earned two sen to 595.5 sen a kg.– Bernama
