Rubber Market Ends Lower On Weak Regional Cues, Middle East Tensions
By K. Naveen Prabu
KUALA LUMPUR, June 23 (Bernama) -- The Malaysian rubber market ended lower today, weighed down by weaker cues from regional rubber markets, said a dealer.
She noted that market sentiment was further dampened by the global economic uncertainty stemming from the escalating conflict in the Middle East, mixed benchmark crude oil prices, and weak Chinese economic data.
“Asian stocks fell on Monday as risk appetite was battered by the United States' (US) attack on Iran's nuclear sites over the weekend, marking a potentially dire escalation in the Middle Eastern conflict,” she told Bernama.
She added that Brent crude oil prices rose sharply in early Asian Trade on Monday, as the US strike heightened fears of supply disruption, although crude pared some of its early gains later in the day.
On another note, China's Fiscal revenue fell 0.3 per cent year-on-year in the first five months of 2025, amid mounting economic pressure from US tariffs and global trade uncertainties.
"Nevertheless, further losses in the rubber market were capped by a weaker ringgit against the US dollar," she said.
At 3 pm, the Malaysian Rubber Board (MRB) reported that the price of Standard Malaysian Rubber 20 (SMR 20) declined by 3.5 sen to 700.0 sen per kilogramme (kg), while latex in bulk eased by 0.5 sen to 588.50 sen per kg.
-- BERNAMA