M’sian rubber market likely to see steady trading this week

KUALA LUMPUR – The Malaysian rubber market is likely to see steady trading this week on expectation of firm demand for the commodity, dealers said.

They said the local mart will also closely look at prices in the regional futures market in Japan and China for direction.

For the week just-ended, rubber prices were traded mixed due to lack of fresh leads and in line with the performance on regional rubber futures.

On a week-to-week basis, the Malaysian Rubber Board’s official physical noon price for tyre-grade SMR 20 increased 1.5 sen to 1,390.5 sen per kg from the previous Friday’s 1,389.0 sen per kg while latex in bulk declined by 5.5 sen to 941.5 sen per kg from 947.0 sen per kg previously.

The unofficial closing price for tyre-grade SMR 20 dropped 11.5 sen to 1,384.0 sen per kg from 1,395.5 sen per kg previously and latex in bulk fell 8.5 sen to 940.5 sen per kg from 949.0 sen per kg the previous week.

Source: The Star