KUALA LUMPUR — The Malaysian rubber market is likely to continue seeing quiet trading next week, amid lack of fresh leads and tracking the movement of regional rubber futures markets, dealers said.
It was reported that market operators would stay on the sidelines and adopt a wait-and-see attitude as the International Tripartite Rubber Council (ITRC), comprising Thailand, Indonesia and Malaysia would meet to discuss measures to strengthen natural rubber prices from Nov 27 to 30, 2017 in Chiang Mai, Thailand.
Meanwhile, the dealer said heavy rains were reported in the major rubber growing areas and could give some support to the market in the near term.
On a Friday-to-Friday basis, the Malaysian Rubber Board’s noon price for tyre-grade SMR 20 rose to 4.0 sen to 569.0 sen a kg, while latex-in-bulk gained 3.0 sen to 470.0 sen a kg.
The 5 pm unofficial closing price for SMR 20 increased 9.0 sen to 578.0 sen a kg and latex-in-bulk added 7.0 sen to 473.0 sen a kg.
