M’sian rubber mart expected to see better performance

KUALA LUMPUR – The Malaysian rubber market is expected to see a better performance in anticipation of limited supply in the commodity, dealers said.

A dealer said the wet weather in rubber producing countries, particularly in Southern Thailand, would cause a shortage in the raw material and this would boost prices.

He expects to see some buying activities in the local market before the Chinese New Year.

Another dealer said higher oil prices might see the return of traders in the market soon.

On a week-to-week basis, the Malaysian Rubber Board’s official physical price for tyre-grade SMR 20 fell 9.5 sen to 1,014 sen per kg on Friday from 1,023.50 sen per kg registered the previous Friday.

Latex-in-bulk meanwhile lost eight sen to 637 sen per kg from 645 sen per kg the previous Friday.

The unofficial closing price for SMR 20 slipped 1.5 sen to 1,014.50 sen a kg on Friday from 1,016 sen a kg a week before while latex-in-bulk decreased four sen to 637 sen a kg from 641 sen a kg previously.

Source: The Star