KUALA LUMPUR — The Malaysian rubber market is likely to see quiet trading next week as players adopt a wait-and-see attitude as they wait for fresh leads, said a dealer.
The dealer said buying sentiment is expected to remain cautious amid the Greek debt crisis and China’s recent stock market meltdown.
“There were some buying activities in the week just ended, but overall, we do not expect much change in the market for next week,” he told Bernama.
The rubber market ended the week higher as the market accumulated stocks ahead of the weekend.
The increase in the price of crude oil, a component of synthetic rubber, also pushed demand for natural rubber. On a Friday-to-Friday basis, the Malaysian Rubber Board’s sellers’ official physical price for tyre-grade SMR 20 depreciated 14 sen to 542 sen per kg while latex-in-bulk declined 14.5 sen to 436.5 sen per kg.
The unofficial sellers’ closing price for tyre-grade SMR 20 went down 16 sen to 542.5 sen per kg, while latex-in-bulk fell six sen to 435.5 sen per kg.
– Bernama
