KUALA LUMPUR — The Malaysian rubber market is likely to trend higher next week as the weaker ringgit versus the US dollar will make the commodity more appealing to buyers. A dealer said the lower currency has made the commodity more attractive and has created renewed demand from buyers.
For the week-just-ended, the local market was mixed at the beginning but surged to its highest since January 2014 on Friday.
On a Friday-to-Friday basis, the Malaysian Rubber Board’s noon price for tyre-grade SMR 20 jumped 95.5 sen to 709 sen a kg and latex-in-bulk added 22 sen to 524 sen a kg. The 5 pm unofficial closing price for SMR 20 soared 111 sen to 726.5 sen a kg while latex-in-bulk improved 22.5 sen to 525.5 sen a kg.
