Malaysian rubber prices rebound to close higher

Malaysian rubber prices closed higher today in tandem with a rebound in the regional markets, dealers said. A dealer said the market rebounded today following a positive market reaction to a comment from United States Federal Reserve Chairman Ben Bernanke in favour of continuing the central bank's bond-buying programmes. "The International Rubber Consortium (IRCo) Chief Secretary, Yium Tavarolit has also predicted that rubber prices may rebound if there is an improvement in market confidence, as major producing countries are entering the low-production season," the dealer said. At noon, the Malaysian Rubber Board's official physical price for tyre-grade SMR20 rose five sen to 900 sen per kg and latex-in-bulk improved 2.5 sen to 617.5 sen per kg. The unofficial closing price for tyre-grade SMR20 gained 5.5 sen to 900 sen per kg while latex-in-bulk advanced four sen to 619.5 sen per kg