KUALA LUMPUR — The Malaysian rubber market is likely be steadier next week as buyers take advantage of the commodity’s low price. A dealer said for the week just-ended, the local rubber market benefited from the declining ringgit as it made the commodity cheaper for foreign buyers. “This condition is expected to continue next week because the ringgit’s movement tend to mirror crude oil prices and we expect the oversupply situation to remain,” he added. Furthermore, trading activity is expected to resume in full force next week as players return after the Chinese New Year holiday on Monday and Tuesday. On a Friday-to-Friday basis, the Malaysian Rubber Board’s sellers’ official physical price for tyre-grade SMR 20 decreased 12.5 sen to 433.5 sen a kg while latex-in-bulk trimmed 15.5 sen to 345.5 sen a kg. The unofficial closing price for tyre-grade SMR 20 fell 15.5 sen to 434 sen a kg while latex-in-bulk declined 13.5 sen to 347.5 sen a kg.
Malaysia: Rubber Market Expected To Be Better next week
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