Rubber Market Ends Mixed Amid Weaker Crude Oil, Regional Futures Pressure

By Fatin Umairah Abdul Hamid

KUALA LUMPUR, May 20 (Bernama) -- The Kuala Lumpur rubber market ended mixed today, weighed down by declines in regional rubber futures and lower benchmark crude oil prices amid expectations of easing supply tightness, a dealer said.

At the time of writing, Brent crude oil eased by 1.13 per cent to US$109.97 per barrel.

The dealer said Japanese rubber futures fell on Wednesday as improved tapping activity in Thailand and West Africa weighed on spot prices.

He added that sentiment was also affected by concerns over slower global economic growth and ongoing uncertainty surrounding the West Asia conflict.

“However, losses were capped by a slightly weaker ringgit, optimism over improving United States-China trade relations, stable Chinese economy, and hopes for a potential peace resolution in West Asia,” he told Bernama.

At 3 pm, the price of Standard Malaysian Rubber (SMR) 20 rose four sen to 894 sen per kilogramme (kg), while latex-in-bulk declined five sen to 770.5 sen per kg.

-- BERNAMA