KUALA LUMPUR — The Malaysian rubber market is expected to hover at the current level next week, as investors remain cautious on the escalating trade tension between the US and China, said a dealer.
The dealer noted that trade tension was causing uncertainty across markets and was negative for rubber prices.
The rubber market would also likely follow the movement of prices on the regional rubber markets, crude oil, as well as the ringgit performance against the US dollar.
For the week just ended, rubber prices were traded range-bound, taking the cue from external factors, including the regional markets performance, as well as crude oil price and ringgit movements.
On a Friday-to-Friday basis, the Malaysian Rubber Board’s noon price for tyre-grade SMR 20 inched down 0.5 sen to 529.0 sen a kg, while latex-in-bulk rose fell 9.0 sen to 408.0 sen a kg.
The 5 pm unofficial closing price for SMR 20 declined 3.5 sen to 530.5 sen a kg, while latex-in-bulk was 2.5 sen easier to 409.0 sen a kg.
