The strong performance in exports was contributed by the spike in exports of latex goods which posted a year-on-year growth of 95.3% last year.
KUALA LUMPUR: Malaysia’s rubber products surged to a record of RM40.96bil in 2020 due to the spike in exports of latex goods mainly medical devices such as gloves and catheters due to the Covid-19 pandemic.
In a statement on Wednesday, Malaysian Rubber Council (MRC) chief executive officer Brandon Chan said last year’s exports surged by 75.6% from 2019.
“The strong performance in exports was contributed by the spike in exports of latex goods which posted a year-on-year growth of 95.3% last year, ” he said.
Buyer resistance saps rubber
March 01, 2021
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Spot rubber closed lower on Monday. The commodity opened steady but lost the initial strength on buyer resistance and profit booking at higher levels, following the sharp declines in overseas markets and domestic futures on MCX. The trend was partially mixed as ISNR20 managed to close unchanged on better demand.
RSS 4 weakened to ₹160 (160.50) per kg, according to traders and the Rubber Board. The grade slid to ₹156 (156.50) as reported by dealers.
In futures, the natural rubber contract for March delivery dropped to ₹162.50 (163.01) per kg on the Multi Commodity Exchange (MCX).
The most active natural rubber contract for May delivery was down 3.4%from previous day s settlement price to close at 15,902 Yuan (₹180,908.46) a tonne in day time trading on Shanghai Futures Exchange (ShFE).
Fresh buying lifts rubber
February 22, 2021
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Spot rubber explored further highs on Monday. The commodity resumed the upward journey on fresh buying and short covering tracking the overall gains in major overseas markets and domestic futures on MCX.
According to observers, certain companies bought sheet rubber up to the prevailing levels during late trading hours.
RSS 4 firmed up to ₹160 (158) per kg, according to traders and the Rubber Board. The grade improved to ₹156 (154), as per dealers.
In futures, the natural rubber contract for February delivery firmed up to ₹163.50 (161.84) per kg on the Multi Commodity Exchange (MCX).
RSS 3 (spot) flared up to ₹174.84 (171.00) per kg at Bangkok. SMR 20 improved to ₹128.99 (123.09) and Latex to ₹111.31 (107.87) per kg at Kuala Lumpur.
Spot rubber holds steady on buyer resistance
February 19, 2021 Spot rubber was quoted steady despite a firm closing in overseas markets on Friday. RSS 4 finished flat at ₹157.50 per kg, according to traders and the Rubber Board. The grade hit an intra-day high of ₹158.50 during early trades, but shed the initial gains later on buyer resistance. The trend was mixed as RSS 5 and Latex improved further on enquiries from the general rubber goods sector.
In futures, the natural rubber contract for February delivery improved to ₹162.49 (161.06) per kg from Wednesday’s settlement price on the Multi Commodity Exchange (MCX).
The most active natural rubber contract for May delivery was up 365 Yuan (₹4091.25) from previous day’s settlement price to close at 15,650 Yuan (₹175,419.77) a tonne in day time trading on Shanghai Futures Exchange (ShFE).
Spot rubber continued to rule higher on Wednesday. “We expect sheet rubber to cross 160 soon since the majority of growers are not interested to sell their produce at the prevailing levels,” a dealer