KUALA LUMPUR — The Malaysian rubber market is expected to trade cautiously next week as a number of uncertainties continue to loom over the market, said a dealer. Sentiment is expected to be affected by the overall negative global economic condition but the overall positive rating of Malaysia by Fitch Ratings will limit losses. The dealer also said the rubber market will continue to remain weak despite the lower production at home, due to the current dry spell, as a glut in other producing countries limited gains. For the week-just-ended, rubber prices were sharply lower on the back of erratic crude oil prices.
On a Friday-to-Friday basis, the Malaysian Rubber Board’s sellers official physical price for tyre-grade SMR 20 declined 19 sen to 556 sen per kg while latex-in-bulk eased 26.5 sen to 451 sen per kg. The unofficial sellers’ closing price for tyre-grade SMR 20 was 16.5 sen easier at 558.5 sen per kg while latex-in-bulk declined 33.5 sen to 441.5 sen per kg.
Source: Bernama
