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Thursday, August 11, 2022

Malaysia: Rubber Market To Trend Lower Next Week

KUALA LUMPUR — The Malaysian rubber market is likely to trend lower next week on lack of fresh leads, said a dealer.

The dealer said most traders would watch closely the movements of rubber futures on the Tokyo Commodity Exchange (TOCOM) to gauge the trend throughout the week.

For the week just-ended, the market was traded mostly lower in tandem with TOCOM as well as ringgit and crude oil movements.

On a Friday-to-Friday basis, the Malaysian Rubber Board’s noon price for SMR 20 fell by 60 sen to 829.0 sen a kg, while latex-in-bulk eased 17 sen to 708.0 sen a kg.

The 5 pm unofficial closing price for SMR 20 decreased 68.0 sen to 823.0 sen a kg, while latex-in-bulk fell 18.5 sen to 706.0 sen a kg.

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