SLOW DEMAND and bleak global economic prospects seem to linger far too long, affecting commodities market. Citing a report from the country’s news agency, Bernama, the Malaysian rubber market is seen to drop further in the week.
The decline is also in lieu of China’s slowed manufacturing activity this month, for the first time in seven months since October, according to an HSBC data.
Recentl official physical price for tyre-grade SMR20 has been pegged at 747 sen per kg, an increase of 8 sen, according to the Malaysian Rubber Board, whilst it cited that latex-in-bulk added 4.5 sen to 595 sen per kg.
Meanwhile, the unofficial sellers’ closing price for tyre-grade SMR20 fell 6.5 sen to 742 sen per kg and latex-in-bulk was unchanged at 592.5 sen per kg.