KUALA LUMPUR: The Malaysian rubber market is likely to stay at the current level next week amid quiet trading with buyers staying on the sidelines due to the year-end holidays, dealers said.
They said the local market would likely move in tandem with the Tokyo Commodity Exchange (TOCOM) and the Shanghai Futures Exchange (SICOM) next week.
During the week just ended, rubber prices closed mixed on Monday and on a weaker note on Tuesday following the half-day trade ahead of the Christmas holiday on Wednesday.
The local market, however, picked up on Thursday, in line with the TOCOM rubber futures, benefiting from the weaker yen against the US dollar.
However, it closed mixed again with quiet trading on Friday despite the gain on TOCOM.
On a Friday-to-Friday basis, the Malaysian Rubber Board’s official physical price for tyre-grade SMR 20 fell one sen to 753 sen a kg, while latex-in-bulk eased three sen to 553 sen a kg.
The unofficial closing price for tyre-grade SMR 20 lost half-a-sen to 753.5 sen a kg, while latex-in-bulk slipped 5.5 sen to 550.5 sen a kg.
BERNAMA
