KUALA LUMPUR — The Malaysian rubber market is likely to seeing quiet trading next week, amid a lack of fresh leads and in tracking the movement of regional rubber futures markets, dealers said.
The benchmark Tokyo Commodity Exchange’s (TOCOM) rubber futures, which normally dictates the direction of the Malaysian rubber market also traded lower this week.
A dealer noted that a firmer ringgit could hamper demand for the commodity as it would become more expensive for non-ringgit holders.
For the week just-ended, the market traded mixed, taking cue from the bearish performance of regional markets, as well as crude oil price movements.
Article continues below Advertisement...
On a Friday-to-Friday basis, the Malaysian Rubber Board’s noon price for tyre-grade SMR 20 dropped 14 sen to 559.5 sen a kg, while latex-in-bulk was 11.5 sen higher at 499.0 sen a kg.
The 5 pm unofficial closing price for SMR 20 decreased 12 sen to 562.0 sen a kg, and latex-in-bulk added 4.5 sen to 491.0 sen a kg.