Malaysia: Rubber Market Expected To Remain Weak Next Week

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KUALA LUMPUR — Sentiment on the market is likely to remain weak next week on lack of catalysts, as investors take a wait-and-see attitude as the US-China trade war kicked off, said a dealer.

On Friday, China had imposed countermeasures immediately after the US tariffs came into force.

The US has slapped a 25 per cent duties on US$34 billion worth of Chinese goods which came into force earlier in the day.

The dealer noted that the local market would also continue to track the movement on the benchmark Tokyo Commodity Exchange and crude oil performance next week.

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On a Friday-to-Friday basis, the Malaysian ’s sellers official physical price for -grade SMR 20 declined 24 sen to 517.5 sen per kg while latex-in-bulk lost 31.5 sen to 411.0 sen per kg.

The unofficial sellers’ closing price for tyre-grade SMR 20 slipped 15 sen to 524.0 sen per kg and latex-in-bulk fell 25.5 sen to 412.0 sen per kg.

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