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Friday, June 2, 2023

Malaysia: Rubber Mart To Remain Soft Next Week On Sagging Demand

KUALA LUMPUR, June 22 (Bernama) — Prices on the Malaysian rubber market are expected to trade softer next week with evidence of slowing growth in China hurting the outlook for demand, dealers said.

They said market players sentiment have turned negative following the US Federal Reserve’s plan to end bond purchases and negative manufacturing data from China.

The US Federal Reserve has laid out a blueprint for the winding down of its bond-buying programme that has bolstered risky assets.

“Everyone is nervous at the moment due to the latest external development,” a dealer said.

On a Friday-to-Friday basis, the Malaysian Rubber Board’s official physical price for tyre-grade SMR 20 rose three sen to 718.5 sen per kg while latex-in-bulk fell one sen to 557 sen per kg.

The unofficial sellers’ closing price for tyre-grade SMR 20 was unchanged at 720 sen per kg and latex-in-bulk added 15 sen to 556 sen per kg.


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