The Malaysian rubber market is expected to continue its bearish momentum next week on anticipation of weaker demand, dealers said.
“Prices are likely to move sideways within a tight range,” a dealer said, adding the performance of regional futures markets would continue to influence the local market.
For the week just ended, the Malaysian Rubber Board’s official physical price for tyre-grade SMR 20 fell by 30.5 sen to end the week at 780.5 sen a kg against 811 sen a kg last Friday.
Latex-in-bulk gained 5.5 sen to 567.5 sen a kg from 562 sen a kg previously.
The unofficial closing price for tyre-grade SMR 20 declined 34.5 sen to 778.5 sen a kg from 813 sen a kg while latex-in-bulk increased by five sen to 568.5 sen a kg from 563.5 sen last Friday.
The market will be closed on Monday for the Malaysia Day public holiday and will resume trading on Tuesday.– Bernama
