Rubber to trade higher next week
The Malaysian rubber market is expected to trade higher next week, amid a cautious trading tone, a dealer said.
The dealer said progress in the US debt-ceiling deal may lead to
speculative buying activity, as the market still lacked a fresh catalyst.
The market will also follow the movement of prices on the Tokyo Commodity Exchange (TOCOM) and the Shanghai Futures Exchange next week, he added.
For the week just-ended, rubber prices moved within a tight range in tandem with the TOCOM.
On a Friday-to-Friday basis, the Malaysian Rubber Board's official physical price for tyre-grade SMR 20 rose nine sen to 747.5 sen a kg, while latex-in-bulk shed half-a-sen sen to 536.5 sen a kg.
The unofficial closing price for tyre-grade SMR 20 increased 13 sen to 749.5 sen a kg, while latex-in-bulk slipped four sen to 532 sen a kg.-- Bernama