KUALA LUMPUR: Rubber prices face an uncertain prospect on the Malaysian rubber market next week given that the ringgit is expected to continue its upward momentum.
Speaking to Bernama, a dealer said prices are likely to suffer from a lack of demand.
“Rubber prices will be expensive for buyers as they have to pay more for the commodity,” the dealer added.
She said reports that the Thailand government will continue with its plan to sell 200,000 metric tonnes of natural rubber from its stockpile will also impact market sentiment negatively.
For the week-just-ended, the rubber price for tyre-grade SMR 20 ended at its lowest in five months.
On a Friday-to-Friday basis, the Malaysian Rubber Board’s official physical price for tyre-grade SMR 20 at noon fell 28.5 sen to 531 sen a kg, but latex-in-bulk gained one sen for 453 sen a kg.
The 5pm closing price for tyre-grade SMR 20 dipped 31.5 sen to 528 sen a kg, while latex-in-bulk eased three sen to 451.5 sen a kg.– Bernama
