KUALA LUMPUR — The Malaysian rubber market is likely to trend higher next week on improved demand for the commodity.
A dealer said the steady market next week is the result of buyers continuing to take advantage of the commodity’s low price.
For the week just-ended, the local rubber market continued its uptrend in taking cue from the Tokyo Commodity Exchange (TOCOM) which saw a firmer rubber price.
On a Friday-to-Friday basis, the Malaysian Rubber Board’s sellers’ official physical price for tyre-grade SMR 20 increased 15.5 sen to 469 sen a kg, while latex-in-bulk rose 24 sen to 367.5 sen a kg.
The unofficial closing price for tyre-grade SMR 20 gained 18.5 sen to 471.5 sen a kg, while latex-in-bulk improved 25 sen to 368.50 sen a kg.
