KUALA LUMPUR (May 5): The Malaysian rubber market closed mixed, supported by mild demand for the commodity, a dealer said.
The International Rubber Study Group (IRSG) predicted that rubber prices were likely to struggle near multi-year lows in the short-term, hurt by worries over China’s economy and Thailand’s plan to make huge sales from its state stockpiles.
The dealer added that the group also projected the world’s natural rubber supply was forecast to outstrip demand by 241,000 tonnes in 2014, down from a surplus of 384,000 tonnes recorded last year.
“The surplus could narrow to 183,000 tonnes in 2015,” the dealer said, quoting an IRSG statement.
The Malaysian Rubber Board’s official physical price for tyre-grade SMR 20 slipped one sen to 547 sen a kg at noon, while latex-in-bulk added two sen to 460 sen a kg.
The unofficial closing price for tyre-grade SMR 20 was unchanged at 546 sen a kg, while latex-in-bulk increased 1.5 sen to 460 sen a kg.
Malaysia: Rubber market closes mixed on mild demand
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