Rubber Market Ends Mixed In Tandem With Regional Rubber Futures

By Muhammad Fawwaz Thaqif Nor Afandi

KUALA LUMPUR, May 12 (Bernama) -- The Kuala Lumpur rubber market ended mixed on Tuesday, in tandem with regional rubber futures and the gains in crude oil prices, a dealer said.

She said the Japanese rubber futures traded range-bound today as traders are uncertain about supply from top producer Thailand, whose rubber trees are approaching peak seasonality amid heavy rains that are hampering tapping.

"The meteorological agency of Thailand warned of heavy rain and flash floods in the south, where the country's rubber plantations are concentrated, over the next week," the dealer told Bernama.

Oil prices increased as negotiations to resolve the US-Israeli conflict over Iran appeared weak. Tehran's reaction to a proposal from Washington underscored significant differences that have sustained concerns about supply.

At the time of writing, Brent crude rose 2.48 per cent to US$106.80 per barrel.

She added that lingering economic concerns arising from the West Asia conflict continued to affect market sentiment.

“However, further losses were capped by optimism of the US-China trade talks,” she added.

At 3 pm, the price of Standard Malaysian Rubber (SMR) 20 declined by 2.5 sen to 879.5 sen per kilogramme (kg), while latex-in-bulk also rose five sen to 755.5 sen per kg.

-- BERNAMA