The Malaysian rubber market is expected to extend its gains next week following positive response to news report that the Federal Reserve’s fresh phase of monetary stimulus will support economic growth and boost demand.
Physical rubber prices is also likely to be influenced by the Tokyo Commodity Exchange and Shanghai Futures Exchange.
The market would be closed on Monday due to Malaysia Day public holiday and will resume trading on Tuesday.
On a Friday-to-Friday basis, the Malaysian Rubber Board’s sellers official physical price for tyre-grade SMR 20 increased 52.5 sen to 842 sen per kg while latex-in-bulk rose 29.5 sen to 593 sen per kg.
The unofficial sellers’ closing price for tyre-grade SMR 20 soared 60 sen to 851 sen per kg and latex-in-bulk edged up 36 sen to 599 sen per kg. — BERNAMA
Source: http://www.btimes.com.my/Current_News/BTIMES/articles/20120915233323/Article/index_html
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