Rubber Market Ends Higher On Raw Material Shortage Concerns

By Rosemarie Khoo Mohd Sani

KUALA LUMPUR, Aug 15 (Bernama) -- The Malaysian rubber market concluded the week positively due to concerns over a shortage of natural rubber raw materials in major producer Thailand, caused by adverse weather forecasts, said a dealer.

He said the weaker ringgit against the US dollar also lent support for the commodity today. 

“Market sentiment was also lifted by the encouraging China’s automobile sales data and improved optimism over a breakthrough to end geopolitics in Eastern Europe. 

“Nonetheless, further gains were capped by losses in benchmark crude oils and a mixed trend in regional rubber futures markets,” the dealer told Bernama. 

At 3 pm, the Malaysian Rubber Board reported that the price of Standard Malaysian Rubber (SMR) 20 increased 10.0 sen to 736.50 sen per kilogramme (kg), while latex in bulk gained 2.0 sen to 572.0 sen per kg.

-- BERNAMA