KUALA LUMPUR: Rubber prices on the Malaysian rubber market may trade lower next week, following expectations of a weaker Tokyo Commodity Exchange (TOCOM).
A dealer said sentiment in Japan remains weak, reflecting a stronger yen, amid an outlook of more supplies.
“Dealers expect more supply from the producing countries in the market soon because of the end of the wintering season in the region, which will further pressure prices,” he said.
He said the fall in the dollar/yen is probably having the biggest impact, and TOCOM rubber could be trading below 200 yen next week, which could accelerate further selling.
On a Friday-to-Friday basis, the
Malaysian Rubber Board‘s official physical price for tyre-grade SMR 20 at noon rose 12.5 sen to 543.5 sen a kg, and latex-in-bulk gained three sen for 456 sen a kg.
The 5 pm closing price for tyre-grade SMR 20 added 13 sen to 541 sen a kg, while latex-in-bulk increased 4.5 sen to 456 sen a kg. – BERNAMA
KUALA LUMPUR: Rubber prices on the Malaysian rubber market may trade lower next week, following expectations of a weaker Tokyo Commodity Exchange (TOCOM).
A dealer said sentiment in Japan remains weak, reflecting a stronger yen, amid an outlook of more supplies.
“Dealers expect more supply from the producing countries in the market soon because of the end of the wintering season in the region, which will further pressure prices,” he said.
He said the fall in the dollar/yen is probably having the biggest impact, and TOCOM rubber could be trading below 200 yen next week, which could accelerate further selling.
On a Friday-to-Friday basis, the
Malaysian Rubber Board‘s official physical price for tyre-grade SMR 20 at noon rose 12.5 sen to 543.5 sen a kg, and latex-in-bulk gained three sen for 456 sen a kg.
The 5 pm closing price for tyre-grade SMR 20 added 13 sen to 541 sen a kg, while latex-in-bulk increased 4.5 sen to 456 sen a kg. – BERNAMA
