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Rubber prices close mostly higher

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Rubber prices close mostly higher Empty Rubber prices close mostly higher

Post by Cals Wed 16 Oct 2013, 18:41

Rubber prices close mostly higher
Business & Markets 2013
Written by Bernama   
Wednesday, 16 October 2013 17:51
KUALA LUMPUR (Oct 16): Malaysian rubber prices continued its upward momentum from Monday to close mostly higher today on buying support amid positive external sentiment, a dealer said.
The dealer said news that the Democratic and Republican leaders in the US Senate could announce a deal to extend the government's borrowing authority sparked positive sentiment in the market and eased concerns over the debt impasse in the world's largest economy.
The extension of the US government's borrowing authority is until Feb 7, 2014 and will quickly re-open federal agencies that have been closed since Oct 1, 2013.
At noon, the Malaysian Rubber Board's official physical price for tyre-grade SMR 20 increased 5.5 sen to close at 750.50 sen per kg while latex-in-bulk remained unchanged at 536.50 sen per kg.
The unofficial closing price for tyre-grade SMR 20 increased four-and-a-half sen to 753.00 sen per kg while latex-in-bulk decreased 0.5 sen to 536.50 sen per kg.
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