KUALA LUMPUR, March 11 — The local rubber market is projected to be trading range-bound next week, said Malaysian Rubber Glove Manufacturers Association’s (Margma) immediate past president Denis Low.
He said the rubber market will have a slight uptrend bias.
“There will be sporadic buying and replenishment activities of stock based on current usage. This may help to stabilise prices,” he said.
Meanwhile, Low said the onset of the wintering season for rubber trees will take place and the latex yield will be hampered by 30-40 per cent.
On a weekly basis, the Malaysian Rubber Board’s (MRB) reference physical price for Standard Malaysian Rubber 20 (SMR 20) decreased 36 sen to 592.5 sen from 628.5 sen a kg last Friday, while latex-in-bulk was unchanged at 549 sen a kg as previous week.
At 5 pm on Friday, the MRB closing price for SMR 20 stood at 587 sen a kg while latex-in-bulk was at 547.5 sen a kg.
— Bernama
