Market and product

KUALA LUMPUR (Commodity Online) : Global Rubber prices might decline in the next few months due to the increase in prices for oil as well as the weakening of the demand for from China, analysts said.

(Commodity Onine)However in near term prices are likely to remain slightly higher,they added. In Malaysia, a leading producer, prices are expected to remained stable next week amid a tight raw material supply.

Bad weather conditions have been disrupting output and the market's direction next week will also be determined by external, leads mainly from the Tokyo Commodity Exchange and Shanghai Rubber Futures market.

Malaysian markets will be closed from Tuesday-Thursday for the Hari Raya and National Day holidays.

On a week-to-week basis, the Malaysian Rubber Board's official physical price for tyre-grade SMR 20 climbed 16.5 sen to 1,358 sen per kg against 1,341.5 sen previously.

Latex in bulk was up seven sen to 867 sen per kg from the 860 sen last Friday.

The unofficial sellers' closing price for tyre-grade SMR 20 increased 20.5 sen to 1,354.5 sen per kg versus 1,334 sen per kg last week while latex in bulk was up 7.5 sen to 865.5 sen per kg from 858 sen previously.