Rubber prices closed slightly higher on further weakening of the ringgit against the US dollar, said a dealer.
He said the uptrend was also in tandem with gains in Tokyo Commodity Exchange (TOCOM) rubber futures, which had rebounded from a one-month closing low due to the weakening of the yen against the greenback and rally in shares.
At noon, the Malaysian Rubber Board’s official physical price for tyre-grade SMR 20 rose 4.50 sen to 753 sen per kg while latex-in-bulk increased half-a-sen to 555 sen per kg.
The unofficial closing price for tyre-grade SMR 20 stood at 753 sen per kg while latex-in-bulk was quoted at 555 sen per kg.
There was no comparative unofficial closing price as the market was only traded for half-a-day on Tuesday on the eve of Christmas.– Bernama
