KUALA LUMPUR — The Malaysian rubber market is expected to be firmer with an upside bias next week, a dealer said.
The price movement is expected to be influenced by the performance of the Tokyo Commodity Exchange (TOCOM), the ringgit and crude oil futures.
TOCOM futures contract prices, which set the tone for tyre prices in Southeast Asia, are anticipated to recover from last week’s lacklustre performance.
Besides that, oil prices are prone to influence rubber prices as their rise and fall would determine the pricing of natural rubber’s competitor — synthetic rubber.
“The market is expected to remain firm amid added buying interest, provided there were no unprecedented anomalies,” he told Bernama.
For the just-ended week, the Malaysian rubber market was on a subdued buying momentum following lack of catalyst, as regional markets weighed down futures market performance.
On a Friday-to-Friday basis, the Malaysian Rubber Board’s noon price for SMR 20 declined 56.5 sen to 902.5 sen a kg and latex-in-bulk trimmed 22 sen to 778.0 sen a kg.
The 5pm unofficial closing price for SMR 20 was down 55.5 sen to 902 sen a kg, while latex-in-bulk decreased 31.5 sen to 774.5 sen a kg.
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