Malaysian rubber prices reach new high

According to an article on Bernama, "Malaysian rubber prices extended their gains today [May 16], hitting another new all-time high, taking cues from the uptrend in regional markets like Singapore, Thailand and Indonesia, a dealer said. According to him, Singapore's SMR prices hit 954 sen per kg, Indonesia 928.5 sen and Thailand 931 sen. "The uptrend in the regional markets has provided support to the local market. Tight supplies still remains as one of one the contributing factors," he said. The unofficial sellers' closing price for tyre-grade SMR 20 hit a new all-time high of 934 sen per kg, up 11 sen from yesterday's 923 sen, while latex in bulk also touched a new high of 613 sen per kg, increasing 5.5 sen from 607.5 sen previously.

At noon, the Malaysian Rubber Board official physical price for tyre-grade SMR 20 went up 11.5 sen to 928 sen from 916.5 sen yesterday while latex in bulk rose six sen to 610 sen from 604 sen previously. He said SMR 20 is set to touch 955 sen per kg level next week as the market is expected to rise further due to supply concerns.

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