By Siti Noor Afera Abu
KUALA LUMPUR, Sept 7 (Bernama) -- The rubber market ended higher today, with Standard Malaysian Rubber 20 (SMR 20) reaching a new high this year, amid supply concerns in Thailand due to persistent heavy rainfall.
The dealer said expectations of stronger demand and El Niño-related production risks supported sentiment, while tighter US monetary policy limited gains.
“El Niño risks provided additional support, as the weather phenomenon is expected to peak between September and November, increasing the risk of further production cuts,” she told Bernama.
At 3 pm, the price of SMR 20 increased 27 sen to 985.5 sen per kilogramme (kg), while latex in bulk added 10 sen to 700. 5 sen per kg.
-- BERNAMA