KUALA LUMPUR — The Malaysian rubber market is expected to see better performance next week in anticipation of limited supply of the commodity, dealers said.
A dealer said the wet weather in rubber producing countries would cause a shortage in the raw material and this would boost prices.
He said the movement of the ringgit and crude oil prices would also influence demand next week.
For the week just ended, the local rubber prices were traded higher mainly affected by movements of rubber prices in regional futures markets.
On a Friday-to-Thursday basis, the local market traded higher throughout the holiday-shortened week, with the Malaysian Rubber Board’s noon price for tyre-grade SMR 20 increasing 8.5 sen to 542 sen a kg, while latex-in-bulk added two sen to 456 sen a kg.
The 5 pm unofficial closing price for SMR 20 gained 12 sen to 542.5 sen a kg, while latex-in-bulk was unchanged at 456.5 sen a kg.
The market was closed on Monday for Hari Raya Aidiladha and Friday for Malaysia Day.
