The Malaysian rubber market is expected to stay quiet next week hurt by poor demand from China, the world’s biggest rubber consumer, dealers said.
They said with domestic supply of the commodity remaining high in China, the country has stopped importing it for the time being and this has dampened sentiment in the global commodity market.
“The market will also look towards the Tokyo and Shanghai rubber futures which succumbed to profit taking,” a dealer said.
On a Friday-to-Friday basis, the Malaysian Rubber Board’s official physical price for tyre-grade SMR 20 rose 5.5 sen to 710 sen per kg while latex-in-bulk gained nine sen to 533 sen per kg.
The unofficial sellers’ closing price for tyre-grade SMR 20 increased one sen to 706 sen per kg and latex-in-bulk added nine sen to 532.5 sen per kg.– Bernama
