Malaysian rubber prices are expected to improve next week amid the recovering economic data from China and the US, a dealer said.
He said China, the biggest rubber consumer, is expanding its imports of the commodity for restocking.
He said the supply and demand situation and the futures market will also be the main factors that would influence the commodity’s prices.
Another dealer said a statement from the US Federal Reserve, saying it will stick to its easy money policy, would also boost the positive market sentiment.
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The Malaysian rubber market will also track the movements on the Tokyo Commodity Exchange (TOCOM) and the Shanghai Futures Exchange next week, he added.
For the week just ended, rubber prices moved in a tight range, tracking the movements on the TOCOM.
On a week-to-week basis, the Malaysian Rubber Board’s official physical price for tyre-grade SMR 20 increased four sen to end the week at 726 sen a kg against 722 sen a kg last Friday.
Latex-in-bulk increased four sen to 519 sen a kg from 532 sen a kg previously.
The unofficial sellers’ closing price for tyre-grade SMR 20 gained five sen to 724 sen a kg while latex-in-bulk fell 12 sen to 519 sen a kg.– Bernama
