The Malaysian rubber market is expected to fall further next week due to sluggish demand and uncertainties in the global
economy, a dealer said.
“Prices are likely to move sideways within a tight range,” he said, adding, local rubber prices would also track movements on the Tokyo Commodity Exchange.
A dealer said demand is expected to be slower with China’s manufacturing activity in May having slowed for the first time in seven months since October, a preliminary survey by HSBC showed.
On a Thursday-to-Friday basis, the Malaysian Rubber Board’s official physical price for tyre-grade SMR20 rose eight sen to 747 sen per kg, while latex-in-bulk added 4.5 sen to 595 sen per kg.
The unofficial sellers’ closing price for tyre-grade SMR20 declined 6.5 sen to 742 sen per kg and latex-in-bulk was unchanged at 592.5 sen per kg.
The local rubber market was closed on Friday for the Wesak Day holiday and will resume trading on Monday.– Bernama
