KUALA LUMPUR — The Malaysian rubber market is likely to trade mixed next week, tracking the trend in crude oil prices and ringgit movement, a dealer said. “However of rubber from Thailand. The market could also be affected by a report that the Singapore Exchange Ltd (SGX) has agreed to join a regional rubber exchange that would bring together the main producing countries, thus enabling easier hedging of various rubber grades, he added.
The SGX held a meeting last month with the International Tripartite Rubber Council (ITRC), an industry body comprising Thailand, Indonesia and Malaysia, which together produce 70 per cent of the world’s rubber. For the week just ended, the local market was mostly traded on a quiet note and influenced by the movement of the ringgit and the benchmark Tokyo Commodity Exchange. On a Friday-to- Friday basis, the Malaysian Rubber Board’s official physical price for tyre-grade SMR 20 was three sen higher at 515 sen a kg, while latex-in-bulk added 9.5 sen to 419.5. The unofficial closing price for tyre-grade SMR 20 improved 7.5 sen to 516 sen a kg, while latex-in-bulk rose 10 sen to 421 sen a kg.
– Bernama
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