By K. Naveen Prabu
KUALA LUMPUR, July 16 (Bernama) -- The Malaysian rubber market ended mixed today, in tandem with regional rubber futures markets, a dealer said.
He said Japanese rubber futures were on the rise, buoyed by supply shortage concerns after top producer Thailand issued warnings of possible flash floods, although sluggish demand continued to cloud the market outlook.
“Thailand’s Meteorological Department warned of heavy rains and accumulation that may cause flash floods and overflows from July 19-21,” he told Bernama.
Nevertheless, he noted that further gains were capped by sticky United States (US) inflation data as concerns over US tariffs persisted.
“US consumer prices rose by the most in five months in June, with the Consumer Price Index (CPI) increasing by 0.3 per cent amid higher costs for some goods, suggesting tariffs are starting to impact inflation and may keep the US Federal Reserve on the sidelines until September,” he added.
At 3 pm, the Malaysian Rubber Board (MRB) reported that the price of Standard Malaysian Rubber 20 (SMR 20) increased by 5.5 sen to 722.00 sen per kilogramme (kg), while latex in bulk fell by 0.5 sen to 563.50 sen per kg.
-- BERNAMA
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