KUALA LUMPUR — The Malaysian rubber market is likely to trade mixed next week, tracking the supply of raw materials as well as the movement of the ringgit.
“As we have entered the wintering season, raw materials such as farmgate latex and cup lump, which are derived from rubber trees, are difficult to find,” the dealer told Bernama.
He said the trend of the regional futures market and the movement of crude oil prices would also be factors dominating the market.
“For SMR 20, the price is likely to be influenced by the Tokyo Commodity Exchange (TOCOM) and Shanghai Futures Exchange (SHFE).
“However, if it ever declines, it would not see much difference as the supply of raw materials will presumably remain tight,” he added.
On a Friday-to-Friday basis, the Malaysian Rubber Board’s official physical price for tyre-grade SMR 20 fell 0.5 sen to 514.50 sen a kg while latex-in-bulk gained nine sen to 428 sen a kg.
The unofficial closing price for tyre-grade SMR 20 was unchanged at 516 sen a kg while latex-in-bulk added 6.5 sen to 427.5 sen a kg.
– Bernama
