KUALA LUMPUR — The Malaysian rubber market is likely to trend higher next week on the back of market anticipation of a further decline in the ringgit next week, a dealer said.
He said in addition, the continuous rain over the past few days had also raised concerns over rubber production.
According to the daily update on the Malaysian Meteorological Department’s website, thunderstorms, heavy rain and strong winds can be expected in several areas in Perak, Negeri Sembilan, Johor, Pahang, Sabah and Sarawak.
For the week just-ended, the Malaysian Rubber Board’s (MRB) official physical price for tyre-grade SMR 20 rose 26 sen to 527.5 sen per kg, while latex-in-bulk was up 15.5 sen at 440 sen per kg.
The 5 pm unofficial closing price for SMR 20 gained 23.5 sen to 525.5 sen a kg, while latex-in-bulk improved 21.5 sen to 444.5 sen a kg.