Rubber Market Ends Higher, Tracking Gains In Crude Oil Prices

By Engku Shariful Azni Engku Ab Latif

KUALA LUMPUR, Feb 6 (Bernama) -- The Kuala Lumpur rubber market ended higher today, supported by gains in crude oil prices, a dealer said.

At the time of writing, the Brent crude oil price rose 1.63 per cent to US$68.59 per barrel.

She said a weaker ringgit against the US dollar also dampened the sentiment.

“However, further gains were capped as market sentiment remained cautious over slowing demand from China’s tyre industry ahead of the Lunar New Year holiday.

“This was compounded by a persistent slowdown in the electric vehicle sector amid mixed advice from regional rubber futures markets,” she told Bernama.

At 3 pm, Standard Malaysian Rubber (SMR) 20 rose by 10 sen to 760.50 sen per kilogramme (kg), while latex-in-bulk gained 2.0 sen to 578.5 sen per kg. 

-- BERNAMA