The Malaysian rubber market closed higher today, supported by the crude oil price increase and positive sentiment from the Tokyo Commodity Exchange (Tocom) futures market.
“Oil prices jumped more than two % on Thursday and boosted optimism that a supply glut was easing,” a dealer said.
The Malaysian Rubber Board’s official physical price for tyre-grade SMR 20 rose 5.5 sen to 537 sen a kg at noon while latex-in-bulk added seven sen to 467.50 sen a kg.
The unofficial closing price for tyre-grade SMR 20 inched up 6.5 sen to 540 sen a kg, while latex-in-bulk increased 4.5 sen to 468.50 sen a kg. – Bernama