RUBBER

THE Malaysian rubber market is likely to maintain a mixed trading as investors will be focusing on the oil production cut plan, as well as digesting the news on China’s official manufacturing activity (PMI).

A dealer said traders expected the Organisation of the Petroleum Exporting Countries (OPEC) and Russia would agree on production cuts even though swelling US supplies kept markets in check.

China’s PMI dropped to 50.0 in November compared with 50.2 in October, the lowest since July 2016.

For the week just ended, rubber prices were traded mixed.

The 5pm unofficial closing price for SMR 20 rose 5.5 sen to 511.0 sen a kg, while latex-in-bulk was four sen lower at 367.5 sen a kg.