Rubber Market Ends Mixed Despite Firm Regional Rubber Futures

By Muhammad Fawwaz Thaqif Nor Afandi

KUALA LUMPUR, Oct 8 (Bernama) -- The Kuala Lumpur rubber market ended mixed on Thursday, despite firmer regional rubber futures following the reopening of the Chinese market after the National Day holidays.

A dealer said the reopening supported buying interest, with stronger Shanghai futures pointing to improved market activity after the week-long closure.

“Further support came from higher crude oil prices amid concerns over West Asia supply disruptions and lower United States crude inventories.

“Concerns over supply disruptions in West Asia and shipping attacks remained. US crude inventories also fell by 3.2 million barrels to 424.1 million barrels in the week ended Oct 2,” she said.

However, gains were limited by weaker vehicle demand in China and rising trade tensions between China and the European Union (EU).

The dealer said the rising China-EU trade tensions may weaken vehicle demand, as China rejected the EU's request to limit hybrid car exports, increasing uncertainty in the automotive sector.

At 3 pm, Standard Malaysian Rubber 20 (SMR 20) declined 4.5 sen to 1,051.5 sen per kilogramme (kg), while bulk latex increased by three sen to 767 sen per kg.

-- BERNAMA