Malaysia: Rubbert Market To Remain Stable Next Week

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KUALA LUMPUR, April 19 — The Malaysian rubber market is expected to remain stable next week with limited downside risk, a trader said.

The possibility of negative surprises were greatly reduced with local traders factoring in the output surplus expected from Thailand coupled with the impact of the firmer ringgit on the soft commodity.

“Despite a possible slow down in China’s consumption, demand from the US and other regions may turnaround from a decline to a positive growth,” the trader added.

Standard Malaysian Rubber (SMR) which contributed 94.9 per cent of Malaysia’s total exports, as at February 2014, would continuously attract global demand, he added.

For the week just-ended, the Malaysian Rubber Board’s official physical price for tyre-grade SMR 20 at noon ended the week one sen lower at 580 sen a kg while latex-in-bulk decreased 11 sen to 471 sen a kg.

The 5 pm closing price for tyre-grade SMR 20 edged up 0.5 sen to 577.5 sen a kg while latex-in-bulk dipped 12.5 sen to 468.5 sen a kg. — Bernama