KUALA LUMPUR: The Malaysian rubber market is likely to see quiet trading next week with everyone in holiday mood celebrating Chinese New Year (CNY), a dealer said.
He said it would affect the market, especially with traders from China, the world’s biggest rubber consumer, on holiday for two weeks.
“But here in Malaysia, we are only shutting down for two days, Feb 11 and Feb 12, so the market will re-open on Wednesday.
“However, for the trading session shortened by CNY next week, the price for the commodity would possibly remain at the previous week’s level,” he added.
On a Friday-to-Friday basis, the Malaysian Rubber Board’s official physical price for tyre-grade SMR20 ended 29 sen higher at 958 sen a kg while latex-in-bulk added eight sen to 625 sen.
The unofficial closing price for tyre-grade SMR20 gained 31 sen to 958 sen a kg while latex-in-bulk rose nine sen to 625 sen a kg.
Source: BERNAMA
