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KUALA LUMPUR: Malaysian rubber prices are expected to continue on a upward trajectory this week as prospects of a shortage of rubber continues to hang over the market, a dealer said.
Malaysian rubber prices are expected to continue on a upward trajectory this week as prospects of a shortage of rubber continues to hang over the market, a dealer said.
It is a sellers market at the moment, as buyers continue to search for supply, the dealer said.
According to the World Rubber Association, rubber prices are expected to remain high, since demand is forecast to be 11.15 million tonnes against a supply of 10.95 million tonnes.
On a weekly basis, the Malaysian Rubber Board’s official physical seller price for tyre-grade SMR 20 rose 16.5 sen to 1,734 sen per kg from 1,717.5 sen per kg previously.
Latex in bulk increased 23.5 sen to 1,079.5 sen per kg from 1,056.0 sen per kg.
The unofficial seller closing price for tyre-grade SMR 20 rose ten sen to 1,727.5 sen per kg from 1,717.5 sen per kg previous week, while latex in bulk increased 27.5 sen to 1,086 sen per kg from 1,058.5 sen per kg previously.
(Source: http://biz.thestar.com.my/news/story.asp?file=/2011/2/21/business/8101888&sec=business)
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