Steadier rubber market expected
MALAYSIAN rubber prices are likely to be firmer next week, tracking the rubber futures prices in regional markets, such as the Tokyo Commodity Exchange (TOCOM), dealers said.
He said a short supply in the market would also continue to support prices next week as the rain was curbing tapping in Thailand and Indonesia.
Another factor that will support rubber prices firm is the demand from China, as the world’s largest consumer of rubber resumed buying local rubber recently, he added.
On a week-to-week basis, the Malaysian Rubber Board (MRB) official physical price for tyre-grade SMR 20 ended the week at 565.00 sen per kg, up from 557.0 sen per kg previously. The price of latex in bulk decreased to 406.0 sen per kg from 411.0 sen per kg.
Meanwhile, the unofficial seller’s closing price for tyre-grade SMR 20 went up four sen to 563.0 sen per kg from 559.0 sen per kg last week. Latex in bulk was five sen lower at 407.0 sen per kg as against 412.0 sen per kg previously.