Rubber Market Ends Mixed

By Abdul Hamid A Rahman and K Naveen Prabu

KUALA LUMPUR, June 19 (Bernama) -- The Malaysian rubber market ended mixed today, influenced by the downtrend in regional rubber futures markets, a dealer said.

She said Japanese rubber futures snapped a four-day winning streak today as demand for a tyre-making material slowed in top consumer China. 

Market sentiment was also weighed down by ongoing geopolitical tensions in Europe and the Middle East, she said.

“Senior United States (US) officials are preparing for the possibility of a strike against Iran as soon as this weekend, although the situation remains unclear,” the dealer said. 

Nevertheless, she said further losses were capped by gains in crude oil prices and a weaker ringgit against the US dollar.

At 3 pm, the Malaysian Rubber Board reported that the price of Standard Malaysian Rubber 20 (SMR 20) declined by 5.5 sen to 710.00 sen per kilogramme (kg), while latex in bulk rose by 2.5 sen to 589.50 sen per kg.

-- BERNAMA