KUALA LUMPUR — The Malaysian rubber market is likely to see rangebound trading next week amid shrinking production and export, said a dealer. The natural rubber (NR) production decreased 19.7 per cent in May 2016 to 33,565 tonnes from 41,786 tonnes in the previous month while NR exports dropped nine per cent to 51,146 tonnes in May compared with April. “The rubber market is likely to be bearish next week on lack of catalysts,” said the dealer. On a weekly basis, the Malaysian Rubber Board’s official physical price for tyre-grade SMR 20 fell 15.5 sen to 500.5 sen a kg while while latex-in-bulk dipped 11.5 sen to 425.0 sen a kg.
Meanwhile, the unofficial physical price for tyregrade SMR 20 and latex-in-bulk stood at 497.5 sen a kg and 422.5 sen a kg respectively. The market was traded at half-day last Tuesday and was closed from Wednesday to Friday last week for Hari Raya Aidilfitri.
