KUALA LUMPUR — The Malaysian rubber market is expected to rebound next week on fresh demand and expectations of increasing oil prices, as well as cautious trading in the ringgit against the US dollar moving forward, dealers said.
He said the price movements were also expected to be influenced by the performance of the Tokyo Commodity Exchange.
The dealer said oil prices influenced rubber prices as their rise and fall would determine the pricing of natural rubber’s competitor, synthetic rubber.
For the week just ended, the rubber market was mostly higher, influenced by the momentum set by the Tokyo Commodity Exchange and Shanghai Futures Exchange.
On a Friday-to-Friday basis, the Malaysian Rubber Board’s noon price for tyre-grade SMR 20 rose nine sen to 573.5 sen a kg, while latex-in-bulk was 26 sen higher at 487.5 sen a kg.
The 5 pm unofficial closing price for SMR 20 increased 11 sen to 574.0 sen a kg and latex-in-bulk added 28 sen to 486.50 sen a kg.
- Bernama
