Malaysia: Buyers on rubber mart awaits fresh leads next week

The Malaysian rubber market is likely to maintain its positive performance next week despite the lack of fresh leads, dealers said.

A dealer said the uncertain weather and wintering season in the major regional producing countries were expected to hold prices amid anticipation of profit-taking.

“For the week just-ended, production declined due to the wintering season but the demand remained high,” he said.

He said next week, the sentiment was expected to remain cautious as buyers awaited more fresh leads.

Another dealer said prices would also move in tandem with the Tokyo Commodity Exchange, which was bullish this week due to lack of activity in the physical market.

On a week-to-week basis, the Malaysian Rubber Board’s official physical price for tyre-grade SMR 20 rose 20 sen to 1,141.5 sen from 1,121.5 sen per kg.

Latex in bulk increased by nine sen to 195 sen per kg from 786 sen.

The unofficial sellers’ closing price for tyre-grade SMR 20 surged 12.5 sen to 1,138.5 sen per kg while latex in bulk added seven sen to 795 sen per kg. — Bernama

Source: http://www.btimes.com.my/Current_News/BTIMES/articles/20120317115300/Article/index_html