Due to weakening Ringgit, the Malaysian rubber market will trade cautiously this week, a dealer said.
He also noted that market was closely monitoring the performance of the yuan as China is the top rubber consumer as well as the world’s second-largest economy.
“Stronger US retail sales that rebounded in July have lifted sentiment in the market, however, due to the prevailing factors, the market could either be trading in a positive or negative direction,” he added.
On a Friday-to-Friday basis, the Malaysian Rubber Board’s official physical price for tyre-grade SMR 20 was 19 sen higher at 536 sen a kg, while latex-in-bulk inched up one sen to 416.5.
The unofficial closing price for tyre-grade SMR 20 improved 19 sen to 538 sen a kg, while latex-in-bulk rose three sen to 418 sen a kg