Rubber rebounds to close higher

Publish date: Sat, 08 Nov 2014, 01:45 AM

KUALA LUMPUR: The local rubber market rebounded to close higher today, lifted by positive external news amid the weakening of the ringgit against the US dollar, a dealer said.

He said the local rubber market saw an increase in prices following positive response to market talk that the Thai Rubber Estate Organisation had bought nearly 400 tonnes of rubber to support the commodity's price.

At the close, the Malaysian Rubber Boards official physical price for tyre-grade SMR 20 gained 11.50 sen to 498 sen a kg and latex-in-bulk edged up 4.5 sen to 402 sen a kg.

The unofficial closing price for tyre-grade SMR 20 increased 13 sen to 502 sen a kg, while latex-in-bulk added 6.5 sen to 404.50 sen a kg. Bernama

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