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 both tyre-grade SMR 20 and latex-in-bulk rose 2.5 sen to 719.50 sen a kg and 534 sen a kg respectively.
Meanwhile, the unofficial sellers’ closing price for tyre-grade SMR 20 lost two sen to 718.50 sen a kg and latex-in-bulk added one sen to 534.50 sen a kg.– Bernama
