Rubber market ends higher on China’s GDP data

Malaysia produced 29,920 tonnes of natural rubber in February 2022, down 39% from 49,087 tonnes in January 2022 and 40% lower against the 49,840 tonnes recorded a year earlier.

KUALA LUMPUR: The Malaysian rubber market, supported by China’s better-than-expected gross domestic product (GDP) data and firmer crude oil prices, closed higher yesterday amid mixed advice from its regional peers, according to a dealer.

He said market players also reacted to the lower February rubber output reported by the Statistics Department last Friday and a weaker ringgit against the US dollar.