Malaysian rubber prices are expected to improve this week

  • Business
  • Monday, 13 May 2013

KUALA LUMPUR: Malaysian rubber prices are expected to improve this week amid the recovering economic data from China and the United States, a dealer said.

He said China, the biggest rubber consumer, is expanding its imports of the commodity for restocking.

However, another dealer said the supply and demand situation and the futures market will also be the main factors that would influence the commodity's prices.

The Malaysian rubber market will also track the movements on the Tokyo Commodity Exchange (Tocom) and the Shanghai Futures Exchange next week (this week), he added.

For the week just ended, rubber prices moved in a tight range, tracking the movements on Tocom.

On a week-to-week basis, the Malaysian Rubber Board's official physical price for tyre-grade SMR 20 increased 34 sen to end the week at 777.5 sen a kg against 743.5 sen a kg previously.

Latex-in-bulk increased four sen to 590 sen a kg from 586 sen a kg previously. The unofficial sellers' closing price for tyre-grade SMR 20 gained 33.5 sen to 794 sen a kg while latex-in-bulk improved 7.5 sen to 593.5 sen a kg. Bernama

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