KUALA LUMPUR — The Malaysian rubber market is likely to remain stable next week, mainly supported by China’s encouraging economic growth, a dealer said.
He said China’s gross domestic product growth of 6.7 per cent in the third quarter indicated the country’s expanding economic activities, spurring demand for rubber.
He said in addition, the rubber market also depended on the movement of crude oil prices.
“If crude oil prices were to improve next week, they will certainly lend a support to the rubber prices as well,” he added.
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On a Friday-to-Friday basis, the Malaysian Rubber Board’s noon price for tyre-grade SMR 20 dipped 44.5 sen to 590.5 sen a kg from 635.0 sen a kg last Friday, while latex-in-bulk rose nine sen to 496.0 sen a kg from 487 sen a kg previously.
The 5 pm unofficial closing price for SMR 20 lost 42 sen to 598.5 sen a kg from 640.5 sen a kg last week, while latex-in-bulk added 7.5 sen to 495.5 sen a kg from 488.0 sen a kg previously.
