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Tuesday, May 24, 2022

Malaysia: Rubber prices seen volatile next week

The Malaysian rubber prices are expected to be volatile next week amid weak economic data from China and the US, a dealer said.

The negative external sentiment in China and the US would keep the traders away, he added.

“The supply and demand situation and the futures market will be the main factors influencing prices next week,” the dealer said.

The Malaysian rubber market would also track the movement on the Tokyo Commodity Exchange (TOCOM) and the Shanghai Futures Exchange next week, he added.

For the week shortened by public holiday, the rubber prices moved in a tight range, tracking the movements on TOCOM.

On a week-to-week basis, the Malaysian Rubber Board’s official physical price for tyre-grade SMR 20 slipped 0.5 sen to end the week at 743.5 sen a kg against 744 sen per kg last Friday.

Latex-in-bulk increased 2.5 sen to 586 sen a kg from 583.5 sen per kg previously.

The unofficial sellers’ closing price for tyre-grade SMR 20 gained 23 sen to 760.5 sen while latex-in-bulk improved 3.5 sen to 586 sen.– Bernama

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