KUALA LUMPUR, Sept 26 — The Malaysian rubber market is likely to trend higher next week with rubber in short supply due to the rainy season in producing countries such as Thailand, Indonesia and Malaysia.
Malaysian Rubber Glove Manufacturers Association (MARGMA) president Denis Low said the prices would also be supported by higher demand, especially from China as the world’s second largest economy had opened up many of its industries with greater logistics.
“There will be a greater need for rubber," he told Bernama.
Low said some countries were also tinkering about opening up their borders, which would augur well for rubber consumption too.
Meanwhile, with Covid-19 cases continuing to rise globally, Low anticipated that medical glove manufacturers would be buying more latex-in-bulk in the months ahead due to persistently strong demand for gloves.
On a Friday-to-Friday basis, SMR 20 closed 19 sen higher at 576.0 per kg, while latex-in-bulk accumulated 8.5 sen to 497.5 per kg.
At 5 pm on Friday, the Malaysian Rubber Board’s reference price for SMR 20 improved 13.5 sen to 572.5 sen per kg, while latex-in-bulk was 7.5 sen firmer at 496.5 sen per kg.
— Bernama
