KUALA LUMPUR — The Malaysian rubber market is likely to trade cautiously next week on lack of catalysts, said a dealer.
He said the rubber market’s movement would depend on the performance of the ringgit against the US dollar, crude oil prices and regional market futures.
For the week just-ended, the market was traded mostly mixed in tandem with regional rubber futures markets, as well as crude oil price movements.
In addition, trading volume was light in the absence of leads from Hong Kong, China and South Korea as some of the markets were closed for week-long festive holidays.
On a Friday-to-Friday basis, the Malaysian Rubber Board’s noon price for tyre-grade SMR 20 increased 32.5 sen to 622.5 sen a kg from 590.0 sen kg and latex-in-bulk gained 12.5 sen to 513.0 sen a kg from 500.5 sen a kg.
The 5 pm unofficial closing price for SMR 20 inched up 17.5 sen to 617.0 sen a kg from 493.5 sen a kg and latex-in-bulk was 19.5 sen higher at 513.0 sen a kg from 493.5 sen a kg.
