Rubber prices closed higher on Friday in tandem with the higher opening prices on the Tokyo Commodity Exchange (TOCOM) due to the weaker yen against the US dollar, dealers said.
“Nevertheless, it is reported that major rubber buyers have started to hold back from the market as prices are set to rise during the dry season, when production drops,” they said.
Meanwhile, they said investors are remaining cautious ahead of the key economic data to be released by China and the US today.
At noon, the Malaysian Rubber Board’s official physical price for tyre-grade SMR20 rose one sen to 892.5 sen per kg and latex-in-bulk was 2.5 sen higher at 622.5 sen per kg.
The unofficial closing price for tyre-grade SMR20 was 897.50 sen per kg and latex-in-bulk rose six sen to 897.5 sen per kg, while latex-in-bulk added 3.5 sen to 625 sen per kg.– Bernama
