Rubber Market Ends Higher, Tracking Gains In Regional Futures And Oil Prices

By Engku Shariful Azni Engku Ab Latif

KUALA LUMPUR, Nov 10 (Bernama) -- The Malaysian rubber market ended higher on Monday, supported by gains in regional rubber futures markets as well as crude oil prices as the pressure on the global automotive industry eased with China’s resumption of Nexperia chip exports, a dealer said.

She said market sentiment was also lifted by hopes of the United States (US) government reopening.

“Nevertheless, further gains were capped by a stronger ringgit against the US dollar,” she told Bernama today.

Meanwhile, the dealer said Japanese rubber futures rose on Monday, buoyed by China granting exemptions to export curbs on Nexperia chips for civilian applications, while a weaker yen made the commodity cheaper for other currency holders.

“Oil prices rose in Asian trade on Monday amid hopes that an end to the long-running US government shutdown will help boost demand in the world's biggest fuel consumer,” she said.

At the time of writing, Brent crude oil rose 0.44 per cent to US$63.89 per barrel.

At 3 pm, the Malaysian Rubber Board (MRB) reported that the price of Standard Malaysian Rubber 20 (SMR 20) was up by 3.5 sen to 723.5 sen per kilogramme (kg), while latex-in-bulk increased by half a sen to 570.5 sen per kg.

-- BERNAMA