Search
Close this search box.

Rubber Market Expected To Remain Firm Next Week On Limited Supply

Kuala lumpur: The Kuala Lumpur rubber market is seen to remain firm with a slight upward bias next week, supported by expectations of limited supply of the commodity amid adverse weather conditions. According to BERNAMA News Agency, heavy winds followed by thunderstorms and rain have been affecting some rubber-producing regions, leading to lower yields and minor shortages, especially for dry rubber. Industry expert Denis Low stated that these weather conditions have resulted in farmers holding back from selling bulk latex, with China emerging as the major buyer last week. The Thai Meteorological Department has forecast heavy rain across 60 percent of Bangkok and isolated heavy rain in parts of the northern, central, eastern, southern, and western regions. In contrast, Malaysia is expecting hazy weather until National Day on August 31. Meanwhile, the Malaysian Rubber Glove Manufacturers Association (MARGMA) predicts that rubber prices could continue their uptrend next week, influenced by the ongoing El Niño weather conditions affecting supply. It noted that rubber glove manufacturers might experience softer market trading next week due to Malaysia's National Day celebrations, while the mixed outlook for US inflation could offer some support to overall rubber trade movements. On a Friday-to-Friday basis, the Malaysian Rubber Board's reference price for Standard Malaysian Rubber 20 (SMR 20) rose by 16.5 sen to 963.5 sen per kilogram, whereas latex in bulk decreased by 8.5 sen to 688 sen per kilogram. The rubber market will be closed on Monday, August 31, in conjunction with National Day, and will resume operations on Tuesday.

Recent News

ADVERTISMENT