The Malaysian rubber market is likely to remain quiet this week with players expected to stay on the sidelines awaiting fresh leads, dealers said.
“The market will not move much next week with fewer transactions in place. Prices may also move in tandem with most markets in the region,” said a dealer.
Another dealer said, higher stock in natural rubber production and lacklustre demand from major rubber consuming countries, may keep markets under pressure.
On a week-to-week basis, the Malaysian Rubber Board’s official physical price for tyre-grade SMR 20 declined four sen to 1,127 sen per kg, against 1,131 sen last Friday.
Latex in bulk, meanwhile, was down by 6.5 sen to 793 sen per kg from 799.5 sen.
The unofficial sellers’ closing price for tyre-grade SMR 20 slipped three sen to 1,128.5 sen per kg versus 1,131.5 sen per kg last week, while latex in bulk dropped seven sen to 792.5 sen per kg from 799.5 sen previously. — Bernama
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