M'sian rubber market seen to be firm this week

KUALA LUMPUR The Malaysian rubber market is expected to be firm this week, dealers said.

A dealer said there may be concerns on supply contraints due to bad weather that had disrupted tapping and output.

Prices are likely to be supported at this level amid concerns over tight supplies, he said.

Previous week, the SMR 20 buyers' price breached its record high level of 1,335.0 sen previously, to settle at 1,340.5 sen per kg on Friday.

On a weekly basis, the Malaysian Rubber Board's official sellers' physical price for tyre-grade SMR 20 ended 31.5 sen higher at 1,351.0 sen per kg compared with 1,319.5 sen per kg previous Friday, while latex-in-bulk rose 25 sen to 907 sen per kg. The unofficial sellers' closing price for tyre-grade SMR 20 gained 41 sen to 1,354.0 sen per kg while latex-in-bulk went up 30 sen to 910.0 sen per kg.

(Source: http://biz.thestar.com.my/news/story.asp?file=/2010/12/6/business/7561754&sec=business)