Rubber Market Ends Firmer Amid Steady Crude Oil Prices, Supply Concerns
By Fatin Umairah Abdul Hamid
KUALA LUMPUR, April 11 (Bernama) -- The Malaysian rubber market ended slightly firmer today, supported by steady benchmark crude oil prices and an uptick in regional rubber futures led by gains in Shanghai rubber futures, a dealer said.
She noted that market sentiment was also buoyed by concerns over a shortage of raw materials due to the wintering season in natural rubber-producing countries as well as growing optimism over potential Chinese stimulus measures.
“Nevertheless, further gains were capped by a stronger ringgit against the United States (US) dollar and worsening China-US trade tensions, which heightened global economic uncertainties,” the dealer told Bernama.
Meanwhile, as of 3 pm, the Malaysian Rubber Board reported that the price of Standard Malaysian Rubber (SMR) 20 rose by 5.5 sen to 762.5 sen per kilogramme (kg), while latex in bulk remained unchanged at 657 sen per kg.
-- BERNAMA