KUALA LUMPUR, Dec 24 (Bernama) -- The local rubber market closed mixed on Tuesday, in tandem with regional rubber futures markets.
A dealer said the market was supported by gains in crude oil prices and worries over tight natural rubber supply due to prolonged wet weather in several major natural rubber-producing regions, including Malaysia and Thailand. “Nevertheless, further gains were capped by thin trade ahead of the Christmas holiday and the ongoing Middle East conflict,” she told Bernama
The dealer added that in Thailand, the top rubber-producing country, the monsoon prevailing over the country’s gulf and southern region will strengthen, while the high-pressure system covering the northern parts of the country will weaken.
Meanwhile, rubber-tapping activity has stopped in Yunnan and Hainan in China and affected by rainfall in Indonesia and Malaysia.
According to the Malaysian Rubber Board, the price of Standard Malaysian Rubber 20 (SMR 20) added 0.5 sen to 855 sen per kilogramme (kg) while latex in bulk dropped three sen to 712.5 sen per kg.
The Kuala Lumpur rubber market will be closed tomorrow for the Christmas Day holiday. Market operations will commence on Thursday.
-- BERNAMA
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