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Sunday, August 14, 2022

Malaysia: Rubber Mart Likely To Trade Mixed This Week

KUALA LUMPUR — The Malaysian rubber market is expected to continue to trade mixed this week weighed by the movement of ringgit, as well as its regional peers. A dealer said the local currency, which is expected to be stable next week, would mitigate the upside for SMR prices while the changes in crude oil prices would influence latex-in-bulk.

However, concerns over El Nino coupled with the anticipation of a firmer Tokyo Commodity Exchange next week would help push prices higher, the dealer added. On a Friday-to-Friday basis the Malaysian Rubber Board’s sellers’ official physical price for tyre-grade SMR 20 fell nine sen to 538 sen per kg while latex-in-bulk eased 1.5 sen to 410 sen per kg. The unofficial sellers’ closing price for tyre-grade SMR 20 trimmed three sen to 543.5 sen per kg while latex-in-bulk slipped two sen to 411 sen per kg.

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