PETALING JAYA: Top Glove Corp Bhd
’s business outlook has improved, supported by a recovery in average selling prices (ASP) and a tightening supply chain that could accelerate industry consolidation.
Hong Leong Investment Bank (HLIB) Research stated that the glove maker said ASPs for generic medical nitrile gloves rose in late March after four consecutive quarters of decline.
This recovery is primarily a response to skyrocketing costs for raw materials, specifically nitrile butadiene rubber (NBR).
Input costs for butadiene and acrylonitrile have surged by 83.1% and 51.4%, respectively, due to the Iran war.
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