KUALA LUMPUR: The Malaysian rubber market is likely to trend higher next week on improved demand for the commodity, said a dealer.
He said the improvement in regional futures markets has helped boost the local market.
“The US Federal Reserve’s announcement to end its bond purchasing programme which flagged the country’s economic recovery will also help to support the rubber market,” he said, adding the uptrend is likely to continue until end-November.
On a Friday-to-Friday basis, the Malaysian Rubber Board’s official physical price for tyre-grade SMR 20 rose 2.5 sen to 519 sen a kg, and latex-in-bulk gained eight sen to 399 sen a kg.
The unofficial closing price for tyre-grade SMR 20 fell one sen to 519 sen a kg, while latex-in-bulk was six sen higher at 400 sen a kg.– Bernama
