KUALA LUMPUR — The Malaysian rubber market is expected to continue to trade lower next week, said a dealer.
The dealer said the local rubber market would likely to take cue from regional markets, Tokyo Commodity Exchange (TOCOM) rubber futures and Shanghai Futures Market, to gauge the trend throughout the week.
He said the demand from China was expected to slow down next week as the world’s second largest economy would be celebrating a week-long National Day public holiday beginning Oct 1, 2017.
For the week just-ended, the market was traded mostly lower in tandem with TOCOM, as well as, the ringgit and crude oil movements.
On a Friday-to-Thursday basis, the Malaysian Rubber Board’s noon price for tyre-grade SMR 20 fell 35.5 sen to 590.0 sen a kg from 625.5 sen kg, while latex-in-bulk declined 15.5 sen to 500.5 sen a kg from 516.0 sen a kg.
The 5 pm unofficial closing price for SMR 20 went down 31.5 sen to 599.5 sen a kg from 631.0 sen a kg and latex-in-bulk was 21 sen lower at 493.5 sen a kg from 514.5 sen a kg.
