The tyre-grade SMR 20 last Friday hit 1,600 sen per kg, the highest level ever since it was introduced in 1972, as Singapore and China car makers continued to place orders despite higher prices.
“Even with the current high prices, traders are still buying, due to improved car sales. This scenario will lead to even higher prices at a time when supply has remained thin, especially, with the onset of the wintering season,” the dealer highlighted.
The wintering season in the major producing countries will force tapping to be deferred as trees produce less latex during this period.
The wintering season is expected to continue until April.
On a Friday-to-Friday basis, the Malaysian Rubber Board's official physical seller price for tyre-grade SMR 20 surged 40.5 sen to 1,593 sen per kg from 1,552.5 sen previous week.
Latex in bulk rose 19.5 one sen at 1,004.5 sen per kg from 985 sen previously.
The unofficial seller closing price for tyre-grade SMR 20 rose 48.5 sen to hit 1,600 sen per kg from 1,551.5 sen previous week, while latex in bulk increased to 25.5 sen to 1,008 sen per kg from 982.5 sen previously.
(Source: http://biz.thestar.com.my/news/story.asp?file=/2011/1/17/business/7808577&sec=business)
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