KL Rubber Market Ends Mixed

By Abdul Hamid A Rahman

KUALA LUMPUR, Aug 20 (Bernama) -- The Kuala Lumpur rubber market ended mixed on Thursday, supported by gains in regional rubber futures markets, while concerns over developments in West Asia capped further upside, a dealer said.

She said market sentiment was supported by expectations of tighter seasonal supply as the peak production season in Southeast Asia draws to a close, higher crude oil prices and strong growth in global electric commercial vehicle sales.

“Seasonal supply is expected to tighten as the peak production season ends in September.

“Strong growth in global electric commercial vehicle sales also supports longer-term vehicle demand,” she told Bernama.

However, she said gains were limited by weaker demand for new energy vehicles in China, continued geopolitical uncertainty in West Asia and a slightly stronger ringgit against the US dollar.

At 3 pm, the price of Standard Malaysian Rubber 20 (SMR 20) increased by 9.5 sen to 938.0 sen per kilogramme (kg) while latex in bulk decreased by 3.5 sen to 680.5 sen per kg.

-- BERNAMA