The Malaysian rubber market is likely to see quiet trading next week following high inventory level for the commodity in producing countries, dealers said.
A dealer said the local rubber prices may be hurt next week due to lack of demand.
He said traders stayed on the sidelines as there was an absence fresh catalysts to boost the prices, especially with Chinese New Year celebrations coming soon.
On a Friday-to-Friday basis, the Malaysian Rubber Board’s official physical offer price for tyre-grade SMR 20 advanced 15 sen to 922.5 sen per kg, while latex-in-bulk fell 3.5 sen to 618.5 sen per kg.
The unofficial closing offer price for tyre-grade SMR 20 rose 7.5 sen to 922.5 sen per kg but latex-in-bulk shed five sen to 619.5 sen per kg.
The market will be closed on Monday in lieu of the Thaipusam public holiday which falls on Jan 27 (Sunday) and resume operations on Tuesday. — BERNAMA
