Rubber Market Follows Regional Futures Market Uptrend

By Engku Shariful Azni Engku Ab Latif

KUALA LUMPUR, Dec 30 (Bernama) -- The local rubber market closed positive on Monday, supported by the uptrend in regional rubber futures markets, following expectations of improved Chinese economic data from additional stimulus, a dealer said.

She said the market was also boosted by gains in crude oil prices and natural rubber supply disruption due to adverse weather conditions in Thailand and Malaysia.

“Nevertheless, further gains were capped by the stronger ringgit against the US dollar and a quiet trading market due to year-end holidays coupled with the ongoing Middle East geopolitical conflicts,” she told Bernama.

According to the Malaysian Rubber Board, the price of Standard Malaysian Rubber (SMR) 20 rose by 14 sen to 890.5 sen per kilogramme (kg), while latex in bulk slid by 1.5 sen to 694.5 sen per kg.

At 5 pm, the price of SMR 20 was 889 sen per kg, while latex in bulk was at 697 sen per kg.

On the other hand, MRB said the local rubber market will be closed for two days from Dec 31, 2024, to Jan 1, 2025, in conjunction with the New Year celebrations.

It said the operations will resume on Thursday, Jan 2, 2025.

-- BERNAMA