KUALA LUMPUR – The Malaysian rubber market is expected to trend higher next week due to the monsoon season that may hamper rubber production.
As such, the Malaysian Rubber Glove Manufacturers Association's (Margma) immediate past president Denis Low said the market will also see some stock-buying in case the monsoon gets worrisome and floods rubber-producing regions.
“We are anticipating a much lower production of latex-in-bulk during the rainy season and it will spur the necessity to buy up extra quantities for the stockpile,” he said.
Touching on the China market, he said the country appeared to be re-opening businesses and many industries are getting back to work, too, auguring well for rubber consumption in the weeks ahead.
On a Friday-to-Friday basis, SMR 20 increased 9.5 sen to 640 per kg, while latex-in-bulk narrowed three sen to 575.5 per kg.
As at 5pm yesterday, the Malaysian Rubber Board’s reference physical price for SMR 20 stood at 663.5 sen a kg while latex-in-bulk was at 580.0 sen a kg. – Bernama, November 28, 2020
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