Malaysia: Rubber mart players seek fresh leads next week

The Malaysian rubber market is likely to be cautious next week influenced by the current weak sentiment globally as traders are concerned over the lingering eurozone debt crisis, dealers said.

A dealer said market players were looking for fresh leads to boost the market.

The current rainy season may also affect supply, he said.

For the week just-ended, the rubber market was subdued on disappointing results from the US Federal Reserve and European Central Bank’s monetary meetings.

On a week-to-week basis, the Malaysian Rubber Board’s official physical price for tyre-grade SMR 20 lost 33 sen to 859.5 sen while latex-in-bulk decreased 25.5 sen to 613.5 sen per kg.

The unofficial sellers’ closing price for tyre-grade SMR 20 declined 33 sen to 862.5 sen per kg and latex-in-bulk fell 34 sen to 607.5 sen per kg. — BERNAMA

Source: http://www.btimes.com.my/Current_News/BTIMES/articles/20120804111800/Article/index_html