| Date: |
24-07-2010 |
| Subject: |
Rubber mart seen slightly higher |
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Malaysian rubber prices are expected to increase slightly next week on concerns over tight supply and low stock levels in major producing countries, dealers said.
However, the local market is also expected to take its cue from the influential Tokyo Commodity Exchange (TOCOM), they said.
Another dealer said that high oil prices would support rubber as it encouraged tyre manufacturers to use natural rubber rather than synthetic rubber.
"The rainy season in major producing countries such as Thailand and Malaysia may also be another supporting factor for the market next week," he said.
On a week-to-week basis, the Malaysian Rubber Board official physical price for tyre-grade SMR 20 rose half a sen to 915 sen per kg from 914.5 sen per kg last Friday.
Latex in bulk declined one sen to 694.00 sen per kg from 695.00 sen per kg previously.
The unofficial closing price for SMR 20 went up by 2.5 sen to 918.00 sen per kg from 915.5 sen per kg previously.
Latex in bulk rose one sen to 696.00 sen per kg from 695.00 sen per kg last Friday
Source : btimes.com
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