KUALA LUMPUR (May 19): Malaysian rubber prices close higher today, tracking the Tokyo Commodity Exchange (TOCOM)’s rubber futures, which firmed up to its psychological level of 200 yen per kilogramme (kg), dealers said.
A dealer said the rise in oil prices and a decline in Shanghai rubber inventories had provided a fillip to prices on the TOCOM.
Meanwhile, another dealer said that on the local front, smallholders had slowed down their tapping activities due to seasonal factors, and this also contributed to tight supplies.
He added that Malaysia’s economy, which registered a robust growth of 6.2 per cent in the first quarter of 2014, compared with 5.1 per cent registered in the fourth quarter of last year, was another positive factor.
The Malaysian Rubber Board’s official physical price for tyre-grade SMR 20 rose 3.5 sen to 547 sen a kg at noon, while latex-in-bulk added one sen to 457 sen a kg.
The unofficial closing price for tyre-grade SMR 20 increased nine sen to 550 sen a kg, while latex-in-bulk inched up half-a-sen to 457.5 sen a kg.
Malaysia: Rubber market ends higher in line with TOCOM
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