Malaysia: Rubber Market Seen Lower Next Week

Related Post

TyreSafe Welcomes Payment Assist as Official Supporter

November 5, 2024

Most Gulf markets gain ahead of US election

November 5, 2024

KSE-100 closes above 92,000 for first time as buying momentum persists

November 5, 2024

Palm ends lower on profit taking ahead of a major conference

November 5, 2024

KUALA LUMPUR — The Malaysian rubber market is likely to trade lower next week tracking the performance of regional futures markets and the strengthening of the ringgit, dealers said.
“News that the oil prices edged to new 2016 highs on Friday has boosted the prices of commodities, including rubber. “However, the local note is expected to increase, influenced by the higher oil prices, which will likely cause the gains in the commodity to be capped next week,” the dealer said.
For the week just ended, the local rubber market was trading mixed in tandem with regional futures markets.
On a Friday-to-Friday basis, the Malaysian Rubber Board’s official physical price for tyre-grade SMR 20 declined 36.5 sen to 574.5 sen a kg while latex-in-bulk gained 18.5 sen to 509 sen a kg. The 5 pm unofficial closing price for SMR 20 depreciated 29 sen to 574 sen a kg while latex-in-bulk expanded 17.5 sen to 506.5 sen a kg.