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Thursday, August 11, 2022

Malaysia: Rubber Market Expected To Be Quiet

KUALA LUMPUR — The Malaysian rubber market is expected to see quiet trading next week, with players likely to adopt a wait-and-see stance as they await fresh catalysts, dealers said.

A dealer said sentiment is also expected to remain cautious amid a stronger ringgit as well as global crude oil prices movement.

“Rubber prices may improve slightly towards the end of the week on fresh leads and also likely to track the movement on regional futures markets,” he added.

For the week just-ended, the market traded mostly lower in tandem with the Tokyo Commodity Exchange, 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 30.5 sen to 798.5 sen a kg, while latex-in-bulk eased 36.5 sen to 671.5 sen a kg.

The 5 pm unofficial closing price for SMR 20 declined 66 sen to 757 sen a kg, while latex-in-bulk fell 32.5 sen to 673.5 sen a kg.

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