KL Rubber Market Ends Week On A High, Boosted By Stable Oil Prices

KUALA LUMPUR, Feb 7 (Bernama) -- The Kuala Lumpur rubber market ended the week on a positive note, supported by stable benchmark crude oil prices, a dealer said.

He added that market sentiment was also buoyed by an uptick in Shanghai rubber futures amid prevailing concerns over natural rubber supply shortage due to expected heavy rains in major producing countries.

“Nevertheless, further gains were capped by concerns of a renewed US-China trade tensions amid uncertainties over US policies,” he told Bernama.

Meanwhile, the Japanese rubber futures declined on Friday, as supply concerns from top producer Thailand were outweighed by a firmer yen and softened demand amid the brewing Sino-US trade war.

The Malaysian Rubber Board (MRB) reported that at 3 pm, the price of Standard Malaysian Rubber 20 (SMR 20) went up by 9.5 sen to 890.0 sen per kilogramme (kg), while latex in bulk increased by 1.5 sen to 689.0 sen per kg. 

-- BERNAMA