KUALA LUMPUR — The Malaysian rubber market is likely to stay cautious next week, tracking the economic uncertainties in main producer nations, dealers said.
A dealer said traders were concerned about the economic growth in China despite Tokyo Commodity Exchange (TOCOM) rubber futures having benefited from the weaker yen recently.
“TOCOM rubber futures prices ended the week higher driven by the rising global oil prices and the continued weakening yen,” he said.
On a weekly basis, the local market was traded lower with the Malaysian Rubber Board’s noon price for tyre-grade SMR 20 up 5.5 sen to 533.5 sen a kg while latex-in-bulk declined 5.5 sen to 415.5 sen a kg.
The 5pm unofficial closing price for SMR 20 declined 5.5 sen to 535 sen a kg while latex-in-bulk slipped 5.5 sen to end the week at 420.5 sen a kg.
The market will be closed on Monday for the National Day holiday.
