Kuala Lumpur Rubber Market Ends Mixed Amid Lower Regional Futures, Oil Prices
By Muhammad Fawwaz Thaqif Nor Afandi
KUALA LUMPUR, Sept 18 (Bernama) -- The Kuala Lumpur rubber market ended mixed on Friday amid weaker regional rubber futures and crude oil prices, a dealer said.
At the time of writing, Brent crude fell 2.09 per cent to US$102.60 per barrel.
She said the softer regional rubber futures and lower crude oil prices weighed on prices, but it was partly offset by firm Thai physical rubber prices, resilient United States labour market conditions and the postponement of new US tariffs on Chinese goods.
“Firm Thai physical prices were driven by low inventories and increased restocking activity at processing plants.
“Meanwhile, the resilient US labour market supported sentiment, with initial jobless claims falling to 196,000 (for the week ended Sept 12), below the 208,000 forecast,” she added.
At 3 pm, the price of Standard Malaysian Rubber 20 (SMR 20) declined 8.5 sen to 977.5 sen per kilogramme (kg), while latex in bulk rose two sen to 717 sen per kg.
-- BERNAMA