Rubber Market Ends Higher

KUALA LUMPUR, June 16 (Bernama) --  The Kuala Lumpur rubber market ended higher today, in line with gains in regional rubber futures markets.

A dealer said the market sentiment was supported by gains in crude oil prices and a weaker ringgit against the US dollar. “Oil prices were volatile on Monday after surging seven per cent last Friday, as renewed strikes by Israel and Iran over the weekend increased concerns that the war (between them) could widen across the region and significantly disrupt oil exports from the Middle East,” she told Bernama.

Nevertheless, she said that further gains were limited by concerns over US-China trade negotiations and the anticipation of weaker Chinese economic data, amid ongoing geopolitical tensions.

At 3 pm, the Malaysian Rubber Board reported that the price of Standard Malaysian Rubber 20 (SMR 20) increased by 5.0 sen to 708.00 sen per kilogramme (kg), while latex-in-bulk was up by 2.5 sen to 581.50.00 sen per kg.

-- BERNAMA