Rubber Market Ends Mixed Amid US-Iran Conflict

By Abdul Hamid A Rahman

KUALA LUMPUR, March 4 (Bernama) -- The Kuala Lumpur rubber market ended mixed today as the market sentiment was dampened by escalating geopolitical conflicts between the United States (US) and Iran, a dealer said.

She said the situation had increased uncertainty surrounding the US economy and its monetary policy outlook.

“The rubber market was also tracking a decline in regional rubber futures.

“Additionally, market sentiment remained cautious following reports of a slowdown in China’s economy, particularly evidenced by a sharp decline in automotive sales,” she told Bernama.

However, the dealer said the market’s downward momentum was partially offset by a surge in global crude oil prices and a weakening ringgit against the US dollar.

At 3 pm, the price of Standard Malaysian Rubber (SMR) 20 decreased 6.5 sen to 787.0 sen per kilogramme (kg), while latex-in-bulk gained 6.5 sen to 637.5 sen per kg.

-- BERNAMA