KUALA LUMPUR, Aug 14 (Bernama) -- Malaysian rubber prices are expected to be rangebound next week, tracking regional rubber futures, dealers said.
"The local market's movement will depend on the performance of rubber futures prices on the Tokyo Commodity Exchange (TOCOM). Most players watch TOCOM and when the price is falling, they don't come in," a dealer said.
Another dealer said most players currently stayed away from the market as they were waiting for further drop in the commodity's price.
"Local prices are still high compared with other countries," he said.
He said concerns over supply shortage in major producer countries Thailand, Indonesia as well as Malaysia, which account for about 60 per cent of world output, would also help lift price in the market.
On a Friday-to-Friday basis, the Malaysian Rubber Board official physical price for tyre-grade SMR 20 edged up two sen to 957.00 sen per kg from 955.00 sen per kg, while latex-in-bulk was down five sen to 695.50 sen per kg against 700.50 sen per kg.
The unofficial sellers closing price for tyre-grade SMR 20 rose two sen to 960.50 sen per kg against 957.50 sen per kg, but latex-in-bulk fell six sen to 694.50 sen per kg versus 700.50 sen per kg.
(bernama.com.my)
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