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Malaysia: Rubber To Trade Mixed Next Week (16-03-2015)

 

Malaysia: Rubber To Trade Mixed Next Week  

KUALA LUMPUR — The Malaysian rubber market is likely to trade mixed next week, tracking the trend in crude oil pricesand ringgit movement, a dealer said. “However of rubber from Thailand. The market could also be affected by a report that the Singapore Exchange Ltd (SGX) has agreed to join a regional rubber exchange that would bring together the main producing countries, thus enabling easier hedging of various rubber grades, he added.

The SGX held a meeting last month with the International Tripartite Rubber Council (ITRC), an industry body comprising Thailand, Indonesia and Malaysia, which together produce 70 per cent of the world`s rubber. For the week just ended, the local market was mostly traded on a quiet note and influenced by the movement of the ringgit and the benchmark Tokyo Commodity Exchange. On a Friday-to- Friday basis, the Malaysian Rubber Board`s official physical price for tyre-grade SMR 20 was three sen higher at 515 sen a kg, while latex-in-bulk added 9.5 sen to 419.5. The unofficial closing price for tyre-grade SMR 20 improved 7.5 sen to 516 sen a kg, while latex-in-bulk rose 10 sen to 421 sen a kg.

- Bernama

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