Rubber Market Closes Lower, In Line With Regional Downtrend

By Fatin Umairah Abdul Hamid

KUALA LUMPUR, Dec 18 (Bernama) – The rubber market closed lower on Wednesday, following the downtrend in regional rubber futures markets, said a dealer.

She noted that the losses were limited by steady crude oil prices and a continuously weakening ringgit against the United States (US) dollar, driven by concerns over supply disruptions due to ongoing rains and floods in Thailand.

“Meanwhile, traders are expected to monitor the outcome of the upcoming United States Federal Reserve (Fed) meeting and the US economic outlook for 2025,” the dealer told Bernama.

She added that the ringgit continued to weaken against the US dollar, supported by stronger-than-expected US retail sales data.

At 5 pm, the ringgit eased slightly to 4.4650/4695 against the US dollar, compared to Tuesday’s close of 4.4645/4690.

She further commented that oil prices remained steady, trading in a narrow range on Wednesday, as traders exercised caution ahead of a possible interest rate cut by the Fed.

Industry data on US inventories, however, provided mixed signals. At the time of writing, Brent crude oil prices had strengthened by 0.53 per cent to US$73.57 per barrel.

Meanwhile, according to the Malaysian Rubber Board, the price of Standard Malaysian Rubber 20 (SMR 20) eased by 13.5 sen to 880.5 sen per kilogramme (kg), while latex in bulk decreased by 1.5 sen to 712.5 sen per kg.

At 5 pm, SMR 20 stood at 873.5 sen per kg, while latex in bulk stood at 713.5 sen per kg.

-- BERNAMA