KUALA LUMPUR — The Malaysian rubber market is likely to trend higher next week on improved demand for the commodity, said a dealer.
He said the improvement in regional futures markets had also helped boost the local market. “The news that Thailand’s government plans to buy rubber at above market prices directly from farmers to stem the continuous decline in its prices will also support the rubber market,” he said.
On a Friday-to-Friday basis, the Malaysian Rubber Board’s sellers’ official physical price for tyre-grade SMR 20 increased 8.5 sen to 470.5 sen a kg, while latex-in-bulk added 11 sen to 341.50 sen a kg.
The unofficial closing price for tyre-grade SMR 20 increased 5.5 sen to 466.5 sen a kg, while latex-in-bulk rose 15 sen to 344 sen a kg.
Malaysia: Rubber Mart To Trend Higher This Week
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