Glovemakers raise ASP guidance as virus lingers

In its research note yesterday, UOBKH pointed out that the likes of Top Glove Corp Bhd, Kossan Rubber Industries Bhd and Hartalega Holdings Bhd (Big-3) have revised upwards their ASP guidance for the months of August and September. It noted that Top Glove, in particular, had raised its spot sales mix to 20%-30% from 10%-15% previously.

PETALING JAYA: Amid the unabated concerns over the Covid-19 outbreak, major glovemakers have revised upwards their average selling price (ASP) guidance for the next two months.

However, industry spot sales ASPs remain unchanged at two to three times contract ASPs, UOB Kay Hian Research (UOBKH) noted.