KUALA LUMPUR — The Malaysian rubber market may trade higher next week on the expected increase in demand, dealers said.
A dealer said the recent rise in global oil prices had also contributed to higher prices for natural rubber.
“Crude oil formed the raw materials used in the production of synthetic rubber, and higher oil prices have made natural rubber a more attractive buy.
“The raining season in major producing countries such as Thailand and Malaysia may also be another supporting factor for the market next week,” he said.
He added that the market might also take the cue from the movement on the Tokyo Commodity Exchange.
On a Friday-to-Friday basis, the Malaysian Rubber Board’s noon price for tyre-grade SMR 20 fell half-a-sen to 565.0 sen a kg, while latex-in-bulk gained 10.5 sen to 493.0 sen a kg.
The 5 pm unofficial closing price for SMR 20 was 2.5 sen higher at 595 sen a kg and latex-in-bulk gained 13 sen to 492.5 sen a kg.
- Bernama
