The Malaysian rubber prices are expected to improve next week due to the weaker ringgit which is expected to boost the demand for the commodity, a dealer said.
She told Bernama the local market would likely move in tandem with the Tokyo Commodity Exchange (TOCOM) which was expected to be in active trading after a long holiday.
The TOCOM rubber futures, which set the tone for the Asian Market, was closed from December 31 and will only resume trading on January 6.
For the week just-ended, rubber prices closed mostly lower in quiet and thin trading due to lack of buying activities ahead of New Year holidays.
On a Friday-to-Friday basis, the Malaysian Rubber Board’s official physical price for tyre-grade SMR 20 fell 19.5 sen to 733.5 sen a kg, while latex-in-bulk dropped 35.5 sen to 517.5 sen a kg.
The unofficial closing price for tyre-grade SMR 20 lost 25.5 sen to 728 sen a kg, while latex-in-bulk slipped 39.5 sen to 511 sen a kg.– Bernama
