Rubber Market Ends Mixed On Weak Regional Futures, Declining Oil Prices

By Siti Noor Afera Abu

KUALA LUMPUR, Sept 11 (Bernama) -- The rubber market ended mixed on Friday, tracking weaker regional rubber futures and a decline in crude oil prices.

A dealer said market conditions were further weighed down by expectations of tighter US monetary policy amid persistent inflationary pressures and weaker global markets.

“Nevertheless, the downside was partially cushioned by resilient global economic growth prospects, continued growth in global electric vehicle demand and expectations of sustained oil prices above US$100 per barrel amid ongoing West Asia supply concerns,” he told Bernama.

At 3 pm, the price of SMR 20 fell 12.5 sen to 998.5 sen per kilogramme (kg), while latex in bulk added two sen to 712.5 sen per kg.

-- BERNAMA