KL Rubber Market Ends Mixed On Thai Supply Outlook
By Fatin Umairah Abdul Hamid
KUALA LUMPUR, Oct 14 (Bernama) -- The Kuala Lumpur rubber market ended mixed on Wednesday, tracking weaker regional rubber futures as expectations of increased raw material supply from Thailand during its peak production season weighed on sentiment.
A dealer said Japanese rubber futures eased on expectations of higher raw material supply from Thailand as the peak production season progressed, with rainfall subsiding and Thai raw material prices expected to weaken in October.
She said sentiment was further dampened by weak tyre demand, a sluggish domestic automotive market in China and slow restocking by tyre manufacturers amid persistently high raw material costs.
“Nevertheless, losses were limited by rising crude oil prices, driven by geopolitical supply concerns and stronger-than-expected Chinese trade data,” she told Bernama.
At 3 pm, the Malaysian Rubber Board’s Standard Malaysian Rubber 20 (SMR 20) price fell 13.5 sen to 1,050.0 sen per kilogramme (kg), while bulk latex was unchanged at 781 sen per kg.
-- BERNAMA