Malaysian rubber prices closed higher today in a quietly steady market, following positive sentiment on the Shanghai Futures Exchange, which surged higher due to gains in overseas markets, dealers said.
Kenanga Research today also reported that there would be an increase in demand for the commodity at an annual average of 10 per cent.
“We expect the rubber sector to remain resilient as the bird flu in China is expected to increase, thus boosting demand for examination rubber gloves,” it added.
At noon, the Malaysian Rubber Board’s official physical price for tyre-grade SMR 20 rose 20 sen to 763.5 a kg, but latex-in-bulk remained at last week’s 586 sen a kg.
Meanwhile, the unofficial sellers’ closing price for tyre-grade SMR 20 surged three sen to 763.5 sen a kg, and latex-in-bulk was unchanged at 586 sen a kg.– Bernama
