KUALA LUMPUR – The Malaysian rubber market hit a six-week high at close today, boosted by the weaker yen and coupled with the Thai government’s announcement to help planters, a dealer said.
The dealer said among the measures to be taken, includes, purchasing rubber to build stockpiles in a bid to bolster prices.
“This will also help to boost our own market,” he said, adding, the rubber market today was also higher in tandem with benchmark Tokyo Commodity Exchange.
At the close, the Malaysian Rubber Board’s official physical price for tyre-grade SMR 20 rose six sen to 506.50 sen a kg and latex-in-bulk increased 2.5 sen to 387.5 sen a kg.
The unofficial closing price for tyre-grade SMR 20 gained 11 sen to 512 sen a kg and latex-in-bulk was up by 3.5 sen to 389 sen a kg.
The market was closed on Wednesday for the Deepavali holiday.