Monday April 22, 2013

Rubber prices seen to be volatile this week

KUALA LUMPUR: Malaysian rubber prices are expected to be volatile this week against the backdrop of weak Chinese data that has sapped the outlook for demand, dealers said.

Despite Malaysia and Thailand collaborating to establish rubber industry zones on both sides of the common border, a dealer said the lack of demand for the commodity from global consumers could affect prices this week.

“The prices will also be influenced by China's intention to buy less of the commodity to reduce its inventory,” he said, adding that Malaysian rubber prices would also track movements on the Tokyo Commodity Exchange.

On a week-to-week basis, the Malaysian Rubber Board's official physical price for tyre-grade SMR 20 fell 69 sen to end the week at 710.5 sen a kg against 779.5 sen per kg registered the previous Friday.

Latex-in-bulk also eased 26.5 sen to 567.5 sen a kg from 594 sen per kg previously.

The unofficial sellers' closing price for tyre-grade SMR20 declined 58.5 sen to 719 sen while latex-in-bulk dropped 24 sen to 568 sen. - Bernama

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