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Saturday, August 13, 2022

Malaysia: Rubber Market To Trade Mixed Next Week

KUALA LUMPUR — The Malaysian rubber market is likely to trade mixed next week, tracking the trend in crude oil prices as well as the ringgit’s movements, dealers said.

A dealer said traders would also remained cautious over profit-taking following the decision by the US Federal Reserve to keep interest rates unchanged. “Rubber prices are also likely to track the movements on the Tokyo Commodity Exchange and Shanghai Futures Exchange,” the dealer told Bernama. On a weekly basis, the local market traded lower with the Malaysian Rubber Board’s noon price for tyre-grade SMR 20 easing 15.5 sen to 528.50 sen a kg while latex-in-bulk trimmed four sen to 414.50 sen a kg. The 5 pm unofficial closing price for SMR 20 declined 19 sen to 523 sen a kg and latex-in-bulk fell seven sen to end the week at 413 sen a kg.

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