KUALA LUMPUR — The Malaysian rubber market is likely to rebound next week, tracking the better performance on the Tokyo Commodity Exchange (TOCOM), a dealer said.
The TOCOM rubber contract for November delivery rose 2.7 yen to 162.1 yen (US$1.48) per kg on Friday, up from 159.4 yen (US$1.45) per kg on Thursday, but eased 0.6 per cent for the week.
He expected prices on TOCOM to stage a technical rebound next week after five straight weeks of losses.
For the week just-ended, the Malaysian Rubber Board (MRB) official physical price for tyre-grade SMR 20 eased 10.5 sen to 505.0 sen per kg while latex in bulk was down 24.5 sen per kg at 448.5 sen per kg. The 5 pm unofficial closing price for SMR 20 gained 0.5 sen to 513.0 sen a kg while latex-in-bulk declined 19.0 sen to 452.5 sen a kg.
