KUALA LUMPUR — The Malaysian rubber market is expected to see quiet trading next week as players are likely to adopt a wait-and-seestance as they await for fresh catalysts, dealers said.
A dealer said the sentiment was expected to remain cautious amid the stronger ringgit as well as lower global crude oil prices.
“Rubber prices may improve slightly towards the end of the week on fresh leads and will also likely track the movement on the Tokyo Commodity Exchange and Shanghai Futures Exchange,” the dealer added.
The Malaysian rubber market was closed today for Good Friday. For the week just ended, the local market was traded mixed and higher on the first and second day, respectively, but was traded lower for the other two days.
On a Friday to Thursday basis, the Malaysian Rubber Board’s official physical price for tyre-grade SMR 20 fell 26 sen to 515.5 sen a kg, while latex-in-bulk eased 5.5 sen to 426 sen a kg.
The 5 pm unofficial closing price for SMR 20 declined 22.5 sen to 510 sen a kg, while latex-in-bulk was eight sen lower to 425 sen a kg.
