Rubber Market Ends Lower, Tracking Regional Rubber Performance, Weaker Oil Prices

By Nurunnasihah Ahmad Rashid

KUALA LUMPUR, July 24 (Bernama) -- The Kuala Lumpur rubber market ended lower on Friday, tracking weaker regional rubber futures markets and declining crude oil prices, a dealer said.

He said market sentiment was weighed down by the ongoing geopolitical tension in West Asia and heightened global trade uncertainty following renewed United States (US) tariff proposals, alongside expectations of higher-for-longer US interest rate outlook.

“Additional pressure came from seasonally weak demand in China and expectations of ample near-term supply in major producer Thailand.

“However, losses were partially cushioned by positive global economic data and a weaker ringgit against the US dollar,” he added.

At 3 pm, the price of Standard Malaysian Rubber 20 (SMR 20) slipped 14.5 sen to 892.0 sen per kilogramme (kg), while latex in bulk dropped five sen to 718.0 sen per kg.

-- BERNAMA