KUALA LUMPUR, March 1 (Bernama) — The Malaysian rubber market is likely to stay at the current levels and be traded mixed next week a dealer said.
She said the local market would likely move in tandem with the Tokyo Commodity Exchange (TOCOM) and the Shanghai Futures Exchange (SICOM) during the week.
“The strong uptrend on regional markets will have a positive impact on the commodity, while a negative manufacturing data from China and the US may have some adverse effect on trading,,” she told Bernama.
During the week just ended, rubber prices closed lower for four consecutive days from Monday to Thursday but rebounded on Friday, in line with the TOCOM rubber futures, which benefited from the weaker yen to the US dollar
On a Friday-to-Friday basis, the Malaysian Rubber Board’s official physical price for tyre-grade SMR 20 fell 33 sen to 609.5 sen a kg, while latex-in-bulk eased four sen to 477.5 sen a kg.
The unofficial closing price for tyre-grade SMR 20 lost 19 sen to 605 sen a kg, while latex-in-bulk slipped 3.5 sen to 478 sen a kg.
— BERNAMA
