KUALA LUMPUR: The Malaysian rubber market is likely to trend higher next week on anticipated higher demand for the commodity.
“As more demand comes from tyre-producing China, prices are expected to be well supported.
“Besides, there will be some low production for the commodity in north Sumatra due to the wintering season, therefore, demand for the commodity will dhift to us,” he said.
For the week-just-ended, rubber prices were traded mostly higher supported by Chinese traders who entered the market after a long break after the Lunar New Year.
On a week-to-week basis, the Malaysian Rubber Board’s official physical price for tyre-grade SMR20 rose seven sen to 509 sen a kg while latex-in-bulk advanced 5.5 sen to 396.
The unofficial closing price for tyre-grade SMR20 gained nine sen to 511 sen a kg while latex-in-bulk was 8.5 sen higher at 398 sen a kg. – BERNAMA