The Malaysian rubber market closed slightly higher today on positive sentiment, dealer said.
A dealer told Bernama the statement by the International Rubber Consortium urging producers not to sell at unreasonably low levels was a factor.
“The market also responded positively to a report that
rubber exporters in Thailand had pledged to avoid selling at below output costs,” he said.
Meanwhile, the International Rubber Study Group has predicted that the world rubber supply would exceed demand for a fourth year in 2014.
At noon, the Malaysian Rubber Board’s official physical price for tyre-grade SMR 20 rose 1.5 sen to 640.5 sen a kg, while latex-in-bulk increased 46 sen to 462 sen a kg.
However, the unofficial sellers’ closing price for tyre-grade SMR 20 declined one sen to 639 sen a kg, while latex-in-bulk up 1.5 sen to 462 sen a kg.– Bernama
