The Malaysian rubber market will likely become grumpy again this week as the global economy status continues to become uncertain as well as the regional statement.
A dealer in the local market said that he is already expecting that the market will remain silent as the buyers of rubber are waiting for new leads.
“In addition to the slowdown in global economic growth and the debt crisis in the European Union, the subdued rubber purchase by China is of more concern for the rubber market,” he said.
The Malaysian Rubber Board’s physical price for tyre-grade SMR 20 decreased 31.5 sen to 890.5 sen per kg., while the latex-in-bulk reduced to 20 sen to 620 sen per kg. (RJA)