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RUBBER MARKET LIKELY TO SEE RANGE-BOUND TRADING NEXT WEEK

Bernama - Saturday, July 19

KUALA LUMPUR, July 19 (Bernama) –- Trading on the Malaysian rubber market is expected to be range-bound next week, tracking the futures prices on the regional markets, dealers said.

They said the local market's performance would also depend on the prices on the Tokyo Commodity Exchange (TOCOM).

"Most players are watching TOCOM and when the prices fall, they don't come in," he said, adding that TOCOM normally played a key role to influence trading on the Malaysian rubber market.

Another dealer said most players had stayed away from the market to wait for the price to drop further.

On a Friday-to-Friday basis, the Malaysian Rubber Board official physical price for tyre-grade SMR20 slipped 20.5 sen to 1,013 sen per kg and latex in bulk dropped 15 sen to 687.5 sen per kg.

The unofficial sellers' closing price for tyre-grade SMR 20 dipped 25.5 sen to 1,010.5 and latex in bulk declined 15.5 sen to 685 sen per kg. –- BERNAMA

SRH THS

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