Local Rubber Market Closes Higher On Weaker Ringgit, Supply Constraints
By Fatin Umairah Abdul Hamid
KUALA LUMPUR, March 25 (Bernama) -- The Malaysian rubber market closed higher on Tuesday, driven by a slightly weaker ringgit and tight natural rubber supply amid the wintering season and forecasts of wet weather in major producing countries.
A dealer said rising hopes for further Chinese stimulus lifted global sentiment, while traders were relieved that the US tariff agenda was less severe than expected.
“However, further gains were capped by falling benchmark crude oil prices and mixed US economic data, amid escalating geopolitical risks and ongoing global trade tensions,” he told Bernama.
At 3 pm, the Malaysian Rubber Board reported that Standard Malaysian Rubber (SMR) 20 rose 3.5 sen to 890.5 sen per kilogramme, while latex in bulk fell 3.5 sen to 684 sen per kilogramme.
-- BERNAMA