Rubber market to see cautious trading next week

KUALA LUMPUR: The Malaysian rubber market is expected to see cautious trading next week, due to a rise in new COVID-19 cases intensifying fears over its spread and impact on the global economy, said a dealer.

According to a report by the Malaysian Rubber Glove Manufacturers Association (MARGMA), the rubber gloves industry will continue to soar in 2020 as the global demand for gloves is expected to experience an annual growth rate of 12 per cent.

“The forecast is poised to fuel glove manufacturers’ demand for polymer coatings for glove production especially powder-free gloves,” she told Bernama today.

She also said the demand for rubber would likely depend on the movements of crude oil as well as the ringgit.

On a Friday-to-Friday basis, the Malaysian Rubber Board’s reference physical price for tyre-grade SMR 20 rose 17.5 sen to 568.00 sen a kg, while latex-in-bulk decreased half-a-sen to 465.00 sen a kg.

At 5pm, the MRB’s reference physical price for SMR 20 gained 13.5 sen to 567.5 sen a kg, while latex-in-bulk added 1.5 sen to 465.00 sen a kg compared with the previous week.- Feb 22, 2020, Bernama

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