Rubber Market Closes Mixed On Expectations Of China's Stimulus Measures, Supply Concerns
By Rosemarie Khoo Mohd Sani
KUALA LUMPUR, March 12 (Bernama) -- The Malaysian rubber market was mixed on Wednesday, in tandem with the regional rubber futures markets, said a dealer.
The sentiment was influenced by the expectations for more Chinese stimulus measures amid gains in crude oil prices and the weaker ringgit against the US dollar, she told Bernama.
The Japanese rubber futures market rebounded due to supply concerns from top producer Thailand while improving automobile sales buoyed sentiment for the tyre-making material.
“Further gains were capped by rising concerns over a global trade war due to the United States trade tariff decisions and as traders await for the release of the US economic data that would affect the US Federal Reserve’s future interest rate decisions,” the dealer said.
According to analysis, she said that the likelihood of a US recession in 2025 has increased to 35 per cent, up from 15 per cent in December, as the economic impact of new tariffs takes hold.
Meanwhile, the Malaysian Rubber Board reported that Standard Malaysian Rubber (SMR) 20 was up by 0.5 sen to 883.50 sen per kilogramme (kg) as of 3 pm, while latex in bulk slid by 3.00 sen to 699.00 sen per kg.
-- BERNAMA