By Fatin Umairah Abdul Hamid
KUALA LUMPUR, Jan 6 (Bernama) -- The local rubber market closed lower on Monday following a downtrend in regional rubber futures markets and weaker benchmark crude oil prices, said a dealer.
The dealer noted that market players also reacted to the possibility of fewer United States (US) rate cuts in 2025 based on the latest economic data and uncertainty about US tariff and trade policy.
“Nevertheless, further losses were capped as the ringgit weakened against the US dollar amid ongoing Chinese stimulus measures,” she told Bernama.
At the time of writing, Brent crude prices had declined by 0.51 per cent to US$75.13 per barrel.
The dealer added that oil prices slid on Monday due to a strong US dollar and concerns over sanctions as the market awaited key economic data from the US Federal Reserve and on US payrolls later in the week.
At 3 pm, the Malaysian Rubber Board (MRB) reported that the price of Standard Malaysian Rubber 20 (SMR 20) fell by 10 sen to 857 sen per kilogramme (kg) while latex in bulk remained unchanged at 689 sen per kg.
-- BERNAMA
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