KUALA LUMPUR (Feb 11): The Malaysian rubber market closed higher for the second consecutive day today, on further weakening of the ringgit against the US dollar.
A dealer said, according to Chief Executive of the International Rubber Consortium, Yium Tavarolit, the rubber prices should fundamentally go up in February-March, as the major producing countries were in dry season and rubber trees normally stop producing latex.
“He further commented that if prices kept falling in March, some measures to shore them up, must be figured out,” he said.
At noon, the Malaysian Rubber Board official physical price for tyre-grade SMR 20, rose 16 sen to 636 sen a kg, while latex-in-bulk improved 3.5 sen to 460 sen a kg.
The unofficial sellers’ closing price for tyre-grade SMR 20, increased nine sen to 639.5 sen a kg, while latex-in-bulk inched up 2.5 sen, to 461 sen a kg.
