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    Friday, March 18, 2016

    Malaysian Rubber Market Closed Higher

    The Malaysian rubber market closed higher after trading mixed the past four days prompted by the recovery in crude oil prices coupled with the uptrend in regional rubber futures markets.

    Global benchmark, Brent crude oil continued its rally and rose to US$40.85 a barrel from US$39 per barrel yesterday.

    The local market was also reacting to news that major oil producers planned to meet in Doha next month to discuss an output freeze plan.

    At noon, the Malaysian Rubber Board's official physical price for SMR 20 gained five sen to 513 sen a kg while latex-in-bulk advanced seven sen to 418 sen a kg.

    The 5 pm unofficial closing price for SMR 20 rose 8.5 sen to 519 sen a
    kg while latex-in-bulk gained 11.5 sen to 425 sen a kg.
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    Item Reviewed: Malaysian Rubber Market Closed Higher Rating: 5 Reviewed By: azmy klanajaya
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