Rubber Market Ends Slightly Higher Amid Natural Rubber Supply Concerns

By Danni Haizal Danial Donald

KUALA LUMPUR, Oct 14 (Bernama) -- The Malaysian rubber market closed slightly higher today, with sentiment lifted by concerns over natural rubber (NR) supply amid the rainy season in major rubber-producing countries, said a dealer.

He told Bernama that market sentiment was bolstered by a weaker ringgit against the greenback, along with optimism for additional United States interest rate cuts.

“Nevertheless, further gains were capped by the downward movement in the regional rubber futures and declining crude oil prices as sentiment was dampened by renewed US-China trade tensions,” said the dealer. 

Quoting the Thai Meteorological Department forecast, he said that Southern Thailand will experience scattered to widespread thundershowers with isolated heavy rain, especially along both coasts.

At 3 pm, the Malaysian Rubber Board reported that the price of Standard Malaysian Rubber 20 (SMR 20) and latex-in-bulk both rose by 0.5 sen to 732.50 sen per kilogramme (kg), and 573 sen per kg, respectively.

-- BERNAMA