Rubber Glove companies till year 2023
Glove stocks weigh on KLCI
koolset
Publish date: Thu, 14 Jan 2021, 08:26 PM
koolset
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Countries are running out of gloves and have to purchase even more to overcome the incoming shortage.
For next 2-3 years, glove manufacturers will have to even more gloves compared to this year. Eventually, price will increase over time and the simple answer to that is because of the decreasing amount of raw rubber latex materials to produce it.
It is expected that the demand will be higher than 350b gloves next year according to Careplus annual report 2020. What's next?
For next 2-3 years, glove manufacturers will have to even more gloves compared to this year. Eventually, price will increase over time and the simple answer to that is because of the decreasing amount of raw rubber latex materials to produce it.
It is expected that the demand will be higher than 350b gloves next year according to Careplus annual report 2020. What's next?
Glove makers weighed on Bursa Malaysia on Thursday as investors took profit after the rebound and piled into semiconductor and tech-related counters.
At 5pm, the FBM KLCI was down 0.98 point or 0.06% to 1,635.71. Turnover was 6.49 billion shares valued at RM4.86bil. There were 584 gainers, 583 losers and 430 counters unchanged.
In a recent report, AmInvestment Research said while demand for gloves will likely remain stable post-Covid-19, the average selling prices (ASPs) of the product are expected to ease in the second half of 2021.
Hartalega fell 70 sen to RM12.30, Supermax 47 sen to RM6.64 and Top Glove 26 sen to RM6.37 and their declines weighed on the 30-stock KLCI.
Also closing lower were Kossan, down 22 sen to RM4.26, Comfort Gloves 21 sen to RM3.17 and Rubberex 13 sen to RM1.68.
PNE PCB fell 13 sen to 50 sen and it was the most active counter with 262 million shares done after the rally was seen as overdone.
On Jan 7, it announced its unit PNE Glove Sdn Bhd intends to set up five gloves production lines with each yielding approximately 300 million pieces per year, sending its share price higher.
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