Rubber Market Ends Mixed
By K. Naveen Prabu
KUALA LUMPUR, June 30 (Bernama) -- The Malaysian rubber market ended mixed today amid an uptrend in the regional rubber futures markets, a dealer said.
She said Japanese rubber futures edged higher today and were on track for monthly gains, as wet weather in key production areas sparked supply concerns.
The positive sentiment was further supported by encouraging Chinese economic data and stimulus measures, she said.
“China’s manufacturing activity improved in June, with the Purchasing Managers’ Index rising slightly to 49.7, as increases in new orders, purchasing volumes, and supplier delivery times signalled that policy support rolled out since late last year is taking effect,” she told Bernama.
Nevertheless, she said, further gains were capped by a stronger ringgit against the United States (US) dollar and a weaker global economic outlook owing to the ongoing Middle East conflict.
At 3 pm, the Malaysian Rubber Board (MRB) reported that the price of Standard Malaysian Rubber 20 (SMR 20) rose by four sen to 706 sen per kilogramme (kg) while latex in bulk declined by one sen to 584.5 sen per kg.
-- BERNAMA