KUALA LUMPUR — The Malaysian rubber market is expected to trade in a cautious mode next week, amid the bearish ringgit outlook and mixed sentiments on the regional market.
A dealer said the Tokyo Commodity Exchange (TOCOM) was expected to continue its uptrend momentum next week while the Shanghai Futures Exchange (SHFE) will take a cautious stance as traders were closely awaiting the release of the manufacturing data by China.
“The prices would highly depend on TOCOM, SHFE and also the US dollar to ringgit exchange rate,” he said.
On a weekly basis, the local market traded lower throughout the week, with the Malaysian Rubber Board’s noon price for tyre-grade SMR 20 falling 16.5 sen to 487 sen a kg, while latex-in-bulk declined 12.5 sen to 366 sen a kg.
The 5 pm unofficial closing price for SMR 20 declined 19.5 sen to 481.5 sen a kg, while latex-in-bulk was 15 sen lower at 365 sen a kg.
