Rubber Market Closes Slightly Higher Amid Supply Concerns And Crude Oil Gains

By Fatin Umairah Abdul Hamid

KUALA LUMPUR, Feb 18 (Bernama) -- The Kuala Lumpur rubber market closed slightly higher on Tuesday, driven by concerns over a tight natural rubber supply due to the ongoing wintering and wet weather in major producing countries, said a dealer.

The dealer noted that market sentiment was also supported by gains in benchmark crude oil prices and the weakening of the ringgit against the United States (US) dollar, amid optimism over further Chinese stimulus measures.

At 5 pm, Brent crude oil prices rose 0.43 per cent to US$75.54 per barrel.

“Nevertheless, further gains were capped by the uncertainty surrounding US trade tariffs and interest rate cuts,” she told Bernama.

The Malaysian Rubber Board reported that, as of 3 pm, SMR 20 edged up half-a-sen to 915.5 sen per kilogramme, while latex in bulk gained two sen to 687.5 sen per kilogramme.

-- BERNAMA