Rubber prices turn higher in line with TOCOM
Malaysian rubber prices turned higher at today's closing in line with the uptrend in rubber prices on the Tokyo Commodity Exchange (TOCOM), dealers said.
The dealer said gains in rubber prices were spurred by buying interest after the downtrend the previous few days with traders attracted to buy rubber products at the low level.
However, he said, the market tone is still quiet and the uptrend may not sustain longer, being more of a marginal technical rebound after the recent fall.
At noon, the Malaysian Rubber Board's official physical price for tyre-grade SMR20 rose 12 sen to 886.5 sen per kg and latex-in-bulk added three sen to 618 sen per kg.
The unofficial closing price for tyre-grade SMR20 improved 11 sen to 888 sen per kg and latex-in-bulk increased three sen to 618 sen per kg.-- Bernama