RUBBER MARKET CLOSES HIGHER

ZUFAZLIN BAHARUDDIN

KUALA LUMPUR, Feb 6  (Bernama) -- The Malaysian rubber market closed higher today supported by a recovery in the regional rubber futures markets.

A dealer said gains were also supported by an increase in oil prices following the upbeat US economic data.

At press time, the benchmark Brent crude surged 1.30 per cent to US$56 per barrel today.

However, the market remained in a cautious mood as concerns on the 2019 novel coronavirus outbreak continue to add uncertainty to the global economic outlook.

At 12 pm, the Malaysian Rubber Board’s (MRB) reference physical price for tyre-grade SMR 20 rose five sen to 537.0 per kg, while latex-in-bulk increased 6.5 sen to 443.0 sen per kg.

At 5 pm, the MRB’s reference physical price for SMR 20 expand 10.0 sen to 541.50 sen per kg and latex-in-bulk up 9.5 sen to 446.0 sen per kg.

-- BERNAMA

 

TAG: Rubber, SMR 20, MRB, Novel Coronavirus, Oil