The Malaysian rubber market is expected to follow the performance of the futures market on the Tokyo Commodity Exchange next week amid continuous tight supply, dealers said.
They said the tight supply was expected to continue next week due to the current wet season in major producer countries.
A dealer said buying activities next week were expected to be minimal due to the competition from the regional markets.
On a holiday-shortened week, the Malaysian Rubber Board's official physical price for tyre-grade SMR 20 rose 44.5 sen to 1,361.5 sen per kg from last Friday's 1,317 sen.
Latex-in-bulk rose 8.5 sen to 949.5 sen per kg from last week's 941 sen.
The unofficial closing price for SMR 20 jumped 32 sen to 1,358 sen from 1,326 sen per kg registered in the previous week and latex-in-bulk added five sen to 949.5 sen per kg from 944.5 sen previously.
The marekt was closed on Tuesday for Wesak Day. – Bernama
(Source: http://www.btimes.com.my/articles/20110521121409/Article/)
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