KUALA LUMPUR — The Malaysian rubber market is likely to move in tandem with regional markets next week, while players are expected to stay on the sidelines awaiting fresh leads, a dealer said.
“The current prices are not expected to change much, particularly in the absence of fresh leads. Any improving demand will likely support prices at around the current figure,” the dealer explained.
The local market would also be monitoring the movements of rubber futures on the Tokyo Commodity Exchange to gauge the trend throughout the week.
For the week just-ended, rubber prices were mostly mixed, on lack of catalysts.
On a Friday-to-Friday basis, the Malaysian Rubber Board’s official physical price for tyre-grade SMR 20 increased 8.5 sen to 651.0 sen a kg from 642.50 sen a kg, and latex-in-bulk gained 1.5 sen to 563.0 sen a kg from 561.50 sen a kg, previously.
The 5 pm closing price for tyre-grade SMR 20 jumped 25.5 sen to 663.0 sen a kg from 637.50 sen a kg last week, and latex-in-bulk rose 10 sen to 571.0 sen a kg from 561 sen a kg.
