The Malaysian rubber market is likely to continue its downtrend next week on negative sentiment due to fluctuating crude oil prices and oversupply situation in Asia.
“The market is expected to be volatile next week given that the demand for the commodity has slowed down as top consumer China has reduced consumption,” he said.
On a Friday-to-Thursday basis, the Malaysian Rubber Board’s official physical price for tyre-grade SMR 20 slipped two sen to 511 sen a kilogramme, while latex-in-bulk eased 6.5 sen to 423.50 sen a kilogramme.
The unofficial closing price for tyre-grade SMR 20 was down 2.5 sen to 509.50 sen a kilogramme, while latex-in-bulk dropped six sen to 423.50 sen a kilogramme.
The rubber market was closed on Friday for “Good Friday” holiday. – Bernama