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Thursday, October 28, 2021

Malaysia: Rubber prices may follow weak Tocom this week

KUALA LUMPUR: Rubber prices on the Malaysian rubber market may trade lower this week, following expectations of a weaker Tokyo Commodity Exchange (Tocom).

A dealer said sentiment in Japan remained weak, reflecting a stronger yen and amid higher inventory levels in the country.

“Lack of market moving events will push the local market to follow Tocom next week as it is the benchmark for trading,” she added.

For the week just-ended, the rubber market traded lower, mostly influenced by the movement of the ringgit and the performance of rubber prices on Tocom.

On a Friday-to-Friday basis, the Malaysian Rubber Board’s official physical price for tyre-grade SMR 20 at noon declined 20.5 sen to 527 sen a kg, while latex-in-bulk eased 14 sen to 452 sen a kg.

The 5 pm closing price for tyre-grade SMR 20 decreased 17 sen to 526 sen a kg, while latex-in-bulk lost 12.5 sen to 452 sen a kg.– Bernama

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