Rubber marke to continue uptrend this week

KUALA LUMPUR: The Malaysian rubber market is expected to continue its uptrend this week on a continuous tight supply expectation, dealers said.

They said floods in Thailand, coupled with the wintering season in the producer countries, would continue to support prices.

Prices are also expected to follow the movement on the Tokyo Commodity Exchange, the global trendsetter of rubber prices.

For the week just-ended, rubber prices mostly took cue from the movement on the Tokyo and Shanghai futures markets.

Tyre-grade SMR 20 lost 12 sen to 1,516.0 sen per kg from 1,528.0 sen per kg previously, while latex-in-bulk gained 26 sen to 1,068.0 sen per kg on Friday, from 1,042 sen per kg, previously. Bernama

(Source: http://biz.thestar.com.my/news/story.asp?file=/2011/4/4/business/8405379&sec=business)