By K. Naveen Prabu
KUALA LUMPUR, July 12 (Bernama) -- The Malaysian rubber market is expected to trend upward next week, supported by stronger United States (US) economic data and rising oil prices, according to the Malaysian Rubber Glove Manufacturers Association (MARGMA).
These factors, as well as expectations of additional economic stimulus from China, are viewed as important drivers that could lend support to the rubber market next week, the association told Bernama.
“However, pervasive uncertainty stemming from US trade policies -- despite the possibility of negotiations before Aug 1 -- along with potential adjustments to US interest rates, could pose headwinds for the rubber market,” it said.
In contrast, industry expert Denis Low expects the rubber market to remain passive next week, with a tendency to move sideways or lower amid cautious sentiment.
“We anticipate trading to be muted, with a downward bias this week,” he said.
On a week-to-week basis, the Malaysian Rubber Board’s reference price for Standard Malaysian Rubber 20 (SMR 20) increased by 15 sen to 726.00 sen per kilogramme (kg), while latex in bulk went down by five sen to 566.50 sen per kg.
-- BERNAMA
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