KUALA LUMPUR — The Malaysian rubber market is likely to see mixed trading next week, tracking the ringgit’s movements against the US dollar and global crude oil prices, a dealer said.
He said the rubber prices would also move in tandem with prices of other commodities and regional futures markets, namely the Tokyo Commodity Exchange and Shanghai Futures Exchange.
According to the Department of Statistics, natural rubber production fell by two per cent in January 2018 to 65,792 tonnes from 67,101 tonnes in the previous month.
The stocks rose by 10.5 per cent to 254,525 tonnes at the end of January compared to 230,300 tonnes in the preceding month.
For the week just-ended, rubber prices were mostly mixed on lack of catalysts.
On a Friday-to-Friday basis, the Malaysian Rubber Board’s noon price for tyre-grade SMR 20 gained six sen to 565.5 sen a kg, while latex-in-bulk was 29 sen lower at 470.0 sen a kg.
The 5pm unofficial closing price for SMR 20 increased 2.5 sen to 564.5 sen a kg, and latex-in-bulk lost 18.5 sen to 472.5 sen a kg.
- Bernama
