By Fatin Umairah Abdul Hamid
KUALA LUMPUR, Oct 21 (Bernama) -- The Malaysian rubber market closed higher today, tracking gains in regional rubber futures amid concerns over natural rubber (NR) supply due to the ongoing rainy season in major producing countries, a dealer said.
He said rubber futures advanced across major Asian exchanges on Tuesday, buoyed by steady demand from downstream industries.
The dealer noted that market sentiment was further boosted by positive economic data from China and signs of easing trade tensions between the United States (US) and China, alongside encouraging global automotive sales performance.
It was reported that, year to date, the global vehicle market has grown by five per cent, with total sales reaching 67 million units compared to the same period in 2024.
“However, upward momentum was partially limited by weaker cues from benchmark crude oil prices and as the ringgit has remained flat against the US dollar since last week,” he told Bernama.
At 3 pm, the Malaysian Rubber Board reported that the price of Standard Malaysian Rubber 20 (SMR 20) rose 7.50 sen to 744.0 per kilogramme (kg), while latex-in-bulk eased by half a sen to 568.50 per kg.
-- BERNAMA
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