Rubber hits fresh high in firm market

Rubber  prices hit a fresh high in a very firm market today, with SMR 20 and latex-in-bulk garnering global interest, dealers said.
A dealer said increasing demand as opposed to supply shortage, made the highly sought commodity extend gains.
At noon, the Malaysian Rubber Board official physical price for tyre-grade SMR 20 rose 12 sen to 1,717.5 sen per kg while latex-in-bulk gained six sen to 1,056.0 sen per kg.
Meanwhile, the unofficial seller closing price for tyre-grade SMR 20 added four sen to 1,717.5 sen per kg while latex-in-bulk advanced five sen to 1,058.5 sen per kg.
(Source: http://www.btimes.com.my/articles/20110211180047/Article/)