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Thursday, May 26, 2022

Malaysia: Rubber prices expected to be uncertain next week

The Malaysian rubber prices are expected to be uncertain next week due to the absence of fresh leads, a dealer said.

The dealer said the supply and demand situation and the futures market would be the main factors influencing the prices, besides the performance on the Tokyo Commodity Exchange (TOCOM) and the
Shanghai Futures Exchange.

He added that market participants might refrain from active dealing ahead of a series of holidays next week in Japan and China.

“The Tokyo Commodity Exchange is closed on April 29 and May 3 for the Golden Week holiday, and the Shanghai Futures Exchange is closed between April 29 and and May 1 for Labour Day holiday.

The Malaysian rubber market is also closed on May 1,” said the dealer.

For the week just-ended, the rubber prices moved mostly higher tracking the movements on TOCOM and the weakening of the yen against the US dollar.

On a week-to-week basis, the Malaysian Rubber Board’s official physical price for tyre-grade SMR 20 rose 33.5 sen to end the week at 744 sen a kg against 710.5 sen per kg last Friday.

Latex-in-bulk also increased 16 sen to 583.5 sen a kg from 567.5 sen per kg previously.

The unofficial sellers’ closing price for tyre-grade SMR 20 gained 18.5 sen to 737.5 sen while latex-in-bulk improved 14.5 sen to 582.5 sen.– Bernam

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