KUALA LUMPUR — The Malaysian rubber market is likely to continue its uptrend momentum next week on better demand. A dealer said the market would also be looking at the crude oil movement next week following the Organisation of the Petroleum Exporting Countries (OPEC) ministers meeting next week, as well as moving in tandem with the Tokyo Commodity Exchange and Shanghai Futures Exchange. The local market traded mostly higher throughout the week.
On a Thursday-to-Friday basis, the Malaysian Rubber Board’s noon price for tyre-grade SMR 20 surged 50.5 sen to 592.5 sen a kg from 542.0 sen a kg, while latex-in-bulk increased 11 sen to 467.0 sen a kg from 456.0 sen a kg previously. The 5 pm unofficial closing price for SMR 20 soared 50.5 sen to 593.0 sen a kg from 542.5 sen a kg, while latex-in-bulk rose 10 sen to 466.5 sen a kg from 456.5 sen a kg. The market was closed last Friday for the Malaysia Day.
