KUALA LUMPUR — The Malaysian rubber market is likely to be stable next week on the back of a regional rubber futures recovery, said a dealer.
She said the Tokyo Commodity Exchange (TOCOM) rubber futures has pulled away from three-month lows, on a firm Shanghai futures, enabling Malaysia’s rubber market to rebound last Friday.
In addition, the TOCOM rubber futures was untraded last Monday for the Health and Sports Day Holiday.
For the week just-ended, the market was traded lower in tandem with subdued regional rubber futures markets, as well as crude oil price movements.
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On a Friday-to-Friday basis, the Malaysian Rubber Board’s noon price for tyre-grade SMR 20 fell 24.5 sen to 598.0 sen a kg from 622.5 sen kg, and latex-in-bulk declined 30.0 sen to 483.0 sen a kg from 513.0 sen a kg.
The 5 pm unofficial closing price for SMR 20 declined 7.5 sen to 609.5 sen a kg from 617.0 sen a kg and latex-in-bulk was 30.5 sen lower at 482.5 sen a kg from 513.0 sen a kg.
Source: Bernama
