Malaysian And Other Rubber Markets In Region Fall Following US Tariff Expansion

By Abdul Hamid A Rahman

KUALA LUMPUR, Aug 20 (Bernama) -- The Malaysian rubber market closed lower today in tandem with its regional counterparts following the latest United States (US) tariff announcement, said a dealer.

She said market players stayed on the sidelines as they awaited further cues on US monetary policy.

“The US Department of Commerce expanded its tariff list on Tuesday by adding 407 product categories of ‘derivative’ steel and aluminium products.

“Those products will face a 50 per cent tariff on any steel and aluminium content, plus the country rate on the non-steel and non-aluminium content,” she told Bernama.

Nevertheless, she said, further losses were capped by gains in crude oil prices and improved China economic data amid expectations of more economic stimulus.

At 3 pm, the Malaysian Rubber Board reported that the price of Standard Malaysian Rubber (SMR) 20 fell by 14.5 sen to 724.5 sen per kilogramme (kg) while latex in bulk declined by five sen to 567 sen per kg.

-- BERNAMA