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Monday, December 6, 2021

Malaysia: Rubber prices likely to be uncertain next week

KUALA LUMPUR: The Malaysian rubber prices are expected to be uncertain next week, mainly due to the weak global economic sentiments, a dealer said.

He said the supply and demand situation and the futures market will be the main factors influencing the prices, besides the performances on Tokyo Commodity Exchange (TOCOM) and the Shanghai Futures Exchange.

“The prices will also be influenced by the key economic data to be released by China and the US which might give the cue on the demand for the commodity products,” he said.

For the week just-ended, the rubber prices moved mostly lower in line with the movements on TOCOM and the weakening of the yen and ringgit against the US dollar.

On a Friday-to-Friday basis, the Malaysian Rubber Board’s official physical offer price for tyre-grade SMR 20 added 10 sen to 842 sen per kg while latex-in-bulk rose 0.5 sen to 618 sen per kg.

The unofficial closing offer price for tyre-grade SMR 20 advanced 10.5 sen to 848.5 sen per kg and latex-in-bulk rose 1.5 sen to 618 sen per kg. — BERNAMA

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