Rubber prices in the Malaysian rubber market closed marginally higher in quiet but steady trading today, dealers said.
A dealer said the rubber market was higher despite the fall in rubber prices on the Tokyo Commodity Exchange due to profit taking activities after recording strong gains yesterday.
Based on a report, China had started to make enquiries after rubber prices sank to multi-year lows.
However, the country’s tyre makers are likely to turn to cheaper stocks in bonded warehouses due to uncertainties over the economy.
At noon, the Malaysian Rubber Board’s official physical price for tyre-grade SMR 20 rose seven sen to 707 sen per kg and latex-in-bulk gained four sen to 526 sen per kg.
The unofficial closing price for tyre-grade SMR 20 increased 4.5 sen to 709.5 sen a kg and latex-in-bulk gained 3.5 sen to 527.5 sen a kg.– Bernama
