Rubber prices likely to ease this week

KUALA LUMPUR: Malaysian rubber prices are likely to continue to ease this week on lack of strong buying, dealers said.

They said improved rubber supply in the major producing countries will weigh down the prices.

“The market tone will remain quiet as players are likely to stay on the sidelines,” a dealer said.

During the week just ended, the local physical rubber prices traded lower in line with weaker rubber prices on the Tokyo Commodity Exchange (Tocom).

On a week-to-week basis, the Malaysian Rubber Board (MRB) official daily closing price for tyre-grade SMR 20 fell 198.5 sen to 1,359.0 sen per kg from 1,557.5 sen per kg previous Friday and latex-in-bulk declined 82 sen to 982.0 sen per kg.

The tyre-grade SMR 20 dropped 201.0 sen to 1,349.5 sen per kg from 1,550.5 sen per kg a week before while the latex-in-bulk eased 89.0 sen to 970.0 sen per kg. Bernama

(Source: http://biz.thestar.com.my/news/story.asp?file=/2011/3/14/business/8257063&sec=business)