Rubber to remain at current level next week
Malaysian rubber prices are likely to hover at the current level next week, as investors remain cautious and taking a 'wait-and-see' approach ahead of the release of China economic data, a dealer said.
"The Chinese economic data will show the gross domestic product and industrial output and if positive, the outcome would be positive as well for the rubber market," she said.
The rubber market would also likely follow the movement of prices on the Tokyo Commodity Exchange (TOCOM) and the Shanghai Futures Exchange next week, she 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 ended five sen lower at 742.5 sen a kg while latex-in-bulk eased two sen to 534.50 sen.
The unofficial closing price for tyre-grade SMR 20 lost 9.5 sen to 740 sen a kg, while latex-in-bulk increased 2.5 sen to 534.50 sen a kg.-- Bernama