Malaysia’s natural rubber prices surge on demand

commodityACCORDING to market report, rubber prices closed higher, as data from China indicating that demand for natural rubber was increasing; the top rubber buyer’s rubber import climbed to a record of 270,000 tonnes last month.

Accordingly, positive sentiments in the local rubber market came with the uptrend in the commodity’s price on the Tokyo Commodity Exchange.

At noon of December 9, the Malaysian Rubber Board’s official physical price for tyre-grade SMR 20 surged 11.5 sen to 752 sen a kg, while latex-in-bulk increased by 4.5 sen to 528 sen a kg.

The unofficial closing price for tyre-grade SMR 20 rose 9.5 sen to 754.5 sen a kg while latex-in-bulk went up 6.5 sen to 531.5 sen a kg.