RUBBERS PRICES EXPECTED TO REMAIN FIRM NEXT WEEK

KUALA LUMPUR, Nov 7 (Bernama) –- Malaysian rubber prices are expected to remain firm next week with the continuing wet weather in the country and in Thailand, contributing to a shortage.

The local rubber market ended on a bullish note this week, prompted by the tight supply of the commodity.

Sellers were also reluctant to dispose off their holdings at current prices in anticipation of it moving up further, due to the wet weather which is expected to last until January, said a dealer.

The stronger regional markets are also aiding the uptrend in the local rubber market.

For the week-just-ended, rubber prices ended higher with intermittent selling, keeping prices in check apart from the weather.

On Friday-to-Friday basis, the Malaysian Rubber Board’s official physical price for tyre-grade SMR 20 increased nine sen to 798.5 sen per kg while latex in bulk added three sen to 507 sen per kg.

The unofficial sellers’ price for tyre-grade SMR 20 climbed 10.5 sen to 801.5 sen per kg and latex in bulk went up 3.5 sen to 508.5 sen per kg.

--BERNAMA

STP AS