KUALA LUMPUR — The Malaysian rubber market is likely to see quiet trading again next week amid lack of fresh leads and with most traders watching closely the movements of the rubber futures on the Tokyo Commodity Exchange (TOCOM), a dealer said.
TOCOM, which normally governs the direction of Malaysian rubber, however, climbed on Friday to pull away from a one-month low the previous day, with investors covering short positions ahead of the weekend.
The volatility in the global crude oil prices and major currency fluctuations would also influence rubber prices next week, he said.
For the week just-ended, the market was mostly lower in tandem with the regional rubber futures markets, as well as, the stronger ringgit and crude oil movements.
On a Friday-to-Friday basis, the Malaysian Rubber Board’s official physical price for tyre-grade SMR 20 slipped 3.5 sen to 591.5 sen a kg and latex-in-bulk dropped 25 sen to 468.0 sen a kg.
The 5pm closing price for tyre-grade SMR 20 was 12 sen lower at 583.0 sen a kg and latex-in-bulk dipped 28.5 sen to 464.0 sen a kg.