The Malaysian rubber market is expected to stay at the current level next week on lack of fresh market leads, dealers said.
A dealer said the recent falls in oil prices and lack of demand from the major consuming industries had weighed down on the commodity.
“The overall sentiment was bearish on rising scepticism in the market over the stimulus measures to tackle uncertainties of the US economy,” he said.
On a Friday-to-Friday basis, the Malaysian Rubber Board’s official physical price for tyre-grade SMR 20 fell four sen to 764.5 sen a kg and the latex-in-bulk declined 12.5 sen to 550 sen a kg.
The unofficial closing price for tyre-grade SMR 20 lost 3.5 sen to 760.5 sen a kg and latex-in-bulk fell 12.5 sen to 548 sen a kg.– Bernama
