KUALA LUMPUR: The Malaysian rubber market extended last week’s gain to close higher for the third consecutive day yesterday tracking Tokyo Commodity Exchange (Tocom), a dealer said.
He said the local rubber market tracked uptrend in the regional futures market despite a stronger ringgit, taking cues from higher rubber futures prices on the Tocom, driven by the weakness in yen.
At noon, the Malaysian Rubber Board’s official physical price for tyre-grade SMR 20 increased 1.5 sen to 508.5 sen a kg, while latex-in-bulk rose two sen to 373 sen a kg.
The unofficial closing price for tyre-grade SMR 20 increased two sen to 509 sen a kg while latex-in-bulk gained one sen to 373 sen a kg.
Bernama