The Malaysian rubber market is likely to trade easier next week as sentiment remains negative over the European debt crisis, dealers said.
Sentiment was subdued after Cyprus became the fifth country in the European Union to ask for a bailout after Greece, Spain, Ireland and Portugal.
“The market remained cautious over the future of the region and China’s slackening demand,” he said, adding that the market was also expected to move in tandem with the Tokyo Commodity Exchange and the Shanghai Futures Exchanges.
For the week just ended, prices were traded mixed as the market was lack of fresh leads amid volatile regional market.
On a week-to-week basis, the Malaysian Rubber Board’s official physical price for tyre-grade SMR 20 fell six sen to 882 sen a kg while latex-in-bulk
declined 11 sen to 655 sen a kg.
The unofficial closing price for SMR 20 and latex-in-bulk dropped 7.5 sen each to 887.5 sen and 654 sen per kg, respectively. — BERNAMA
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