Malaysian rubber prices extended their gains today boosted by continued buying momentum on optimism over global demand, dealers said.
A dealer said the bullish performance was also due to the stronger ringgit against the US dollar coupled with the higher opening of Tokyo Commodity Exchange prices which rose on the weakening of the yen against the greenback.
At noon, the Malaysian Rubber Board’s official physical price
for tyre-grade SMR 20 rose five sen to 760.5 sen a kg and latex-in-bulk added 1.5 sen to 594.5 sen a kg.
Meanwhile, the unofficial sellers’ closing price for tyre-grade SMR 20 inched up a sen to 759.5 sen a kg and latex-in-bulk added two sen to 596 sen a kg.– Bernama
