Rubber prices set to head south
Publish date: Sat, 09 Jun 2012, 11:52 AM
Malaysian rubber prices are likely to ease next week as players are expected to stay on the sidelines in anticipation prices falling further.
A dealer said the market's underlying fundamentals remained intact due to tight supply.
He said local rubber prices would also track the movements of regional rubber futures markets like the Tokyo Commodity Exchange and Singapore Commodity Exchange.
On a week-to-week basis, the Malaysian Rubber Board's official physical noon price for tyre-grade SMR 20 fell 100 sen to 890 sen per kg from last Friday's 990 sen.
Meanwhile, latex-in-bulk shed 36.5 sen to 668.5 sen per kg from 705 sen previously.
The unofficial closing price for tyre-grade SMR 20 declined 104.5 sen to 881.5 sen per kg while latex-in-bulk dropped 37.5 sen to 644 sen per kg. -- BERNAMA
A dealer said the market's underlying fundamentals remained intact due to tight supply.
He said local rubber prices would also track the movements of regional rubber futures markets like the Tokyo Commodity Exchange and Singapore Commodity Exchange.
On a week-to-week basis, the Malaysian Rubber Board's official physical noon price for tyre-grade SMR 20 fell 100 sen to 890 sen per kg from last Friday's 990 sen.
Meanwhile, latex-in-bulk shed 36.5 sen to 668.5 sen per kg from 705 sen previously.
The unofficial closing price for tyre-grade SMR 20 declined 104.5 sen to 881.5 sen per kg while latex-in-bulk dropped 37.5 sen to 644 sen per kg. -- BERNAMA
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Commodity: RUBBER heading SOUTH, PALM OIL heading NORTH.
Read full article at asianplantation.com: http://asianplantations.com/en/news/press-releases/167-global-demand-for-palm-oil-growing-rapidly.html
2012-06-11 11:50