Rubber mart likely to continue uptrend next week (Malaysia)

January 15, 2012 - The Malaysian rubber market is likely to remain on an uptrend next week due to the rainy season in Thailand and the Chinese New Year holiday, dealers said.

A dealer said, the wet weather issue in Southern Thailand would cause a shortage in the supply of raw materials.

"The shortage and buying activities ahead of the Lunar New Year, will push up the price of rubber," said the dealer.

The dealer said, the move by Thailand's Agriculture Ministry to purchase 200,000 tonnes of unsmoked rubber, would also contribute towards an increase in the price.

In the week just ended, the Malaysian Rubber Board's official physical price for tyre-grade SMR 20 gained 24.5 sen to 1,038.50 sen per kg from 1,014.0 sen previously, while latex in bulk rose 16.5 sen to 653.50 sen per kg from 637.0 sen per kg.

The unofficial closing price for SMR 20 went up 15.50 sen to 1,033.0 sen per kg from 1,014.50 sen previously, while latex in bulk advanced 20.5 sen to 657.50 from 637.0 sen per kg. -- Bernama

Source: http://www.btimes.com.my/Current_News/BTIMES/articles/20120114121317/Article/index_html