KUALA LUMPUR — The Malaysian rubber market is likely to continue seeing quiet trading next week, amid a lack of fresh leads and tracking the movement of regional rubber futures markets, dealers said.
The benchmark Tokyo Commodity Exchange’s (TOCOM) rubber futures, which normally dictates the direction of the Malaysian rubber market, fell 1.4 yen to 196.2 yen per kg for March 2018 delivery and was set for a weekly decline of around three per cent, the dealer said.
Another dealer said TOCOM hit near three-and-a-half month low on Tuesday amid a sluggish Shanghai rubber futures market.
For the week just-ended, the market was traded mixed, taking cue from the bearish performances of the regional markets, as well as crude oil price movements.
On a Friday-to-Friday basis, the Malaysian Rubber Board’s noon price for tyre-grade SMR 20 shed 4.0 sen to 594.0 sen a kg from 598.0 sen a kg, and latex-in-bulk declined 3.5 sen to 479.5 sen a kg from 483.0 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.
- Bernama
