KUALA LUMPUR: Malaysian rubber prices closed higher yesterday on stronger buying demand as traders took cues from the bullish Tokyo Commodity Exchange (Tocom) rubber futures.
A dealer said Tocom rubber futures edged higher on the back of a weaker yen, putting the contract on track for a second straight weekly gain.
At noon, the Malaysian Rubber Board’s official physical price for tyre-grade SMR 20 increased 1.5 sen to 507 sen a kg, while latex-in-bulk rose three sen to 371 sen a kg.
The unofficial closing price for tyre-grade SMR 20 stood at 507 sen per kg while latex-in-bulk was quoted at 372 sen per kg.
There was no comparative unofficial closing price as the market was only traded for half-a-day on Wednesday, on the eve of Christmas. Bernama