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Wednesday, January 19, 2022

Malaysia: Rubber market to continue downward trend next week

KUALA LUMPUR: The Malaysian rubber market is expected to continue its downtrend next week on cautious sentiment and as traders await fresh leads, a dealer said.

“Price may slightly improve towards the end of the week on fresh leads and will also likely track the movement on the Tokyo Commodity Exchange and Shanghai Futures Exchange,” she added.

For the week just-ended, prices were steady on the first three days due to comments by the International Rubber Consortium Ltd that the stock level available for sale in theInternational Tripartite Rubber Council(ITRC) countries was low.

But, by the end of the week, the rubber prices had declined due to currency fluctuation.

On a Friday-to-Friday basis, the Malaysian Rubber Board’s official physical price for tyre-grade SMR 20 rose 27 sen to 636 sen a kg and latex-in-bulk was up 10 sen to 463 sen a kg.
The unofficial closing price for tyre-grade SMR 20 increased 24.5 sen to 635.5 sen a kg, while latex-in-bulk was up 8.5 sen to 463.5 sen a kg.  – BERNAMA

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