Rubber prices on the Malaysian rubber market closed higher today on strong demand for the commodity, a dealer said.
He also said the bullish local performance was influenced by China’s industrial output report, which indicated a 9.3 per cent rise in April from 8.9 per cent in March, according to the country’s National Bureau of Statistics.
“Most global rubber markets received a boost after China, the biggest rubber consumer, expanded imports of the commodity for restocking activity,” he added.
At noon, the Malaysian Rubber Board’s official physical price for tyre-grade SMR 20 advanced 14 sen to 791.5 sen a kg, while latex-in-bulk added three sen to 593 sen a kg.
The unofficial sellers closing price for tyre-grade SMR 20 fell 3.5 sen to 790.5 sen a kg, and latex-in-bulk dipped 0.5 sen to 593 sen a kg.– Bernama
