By Engku Shariful Azni Engku Ab Latif
KUALA LUMPUR, July 24 (Bernama) -- The Malaysian rubber market closed higher on Thursday, driven by an increasing trend in the regional rubber futures markets due to concerns over rubber supply, a dealer said.
She said market sentiment was boosted by gains in crude oil prices amid positive United States trade negotiations.
“Nevertheless, further gains were capped by a stronger ringgit against US dollar,” the dealer told Bernama.
At 8.07 am, the local note rose to 4.2140/2320 against the greenback from Wednesday’s close of 4.2255/2300.
The dealer also said Thailand’s meteorological agency warned of heavy rains and accumulations that may cause flash floods and overflows on July 24, 2025.
“Japanese rubber futures pared earlier losses, supported by concerns over adverse weather impacting Southeast Asian plantations and strengthening demand in China,” she added.
At 3 pm, the Malaysian Rubber Board (MRB) reported that the price of Standard Malaysian Rubber 20 (SMR 20) surged 16 sen to 746.50 sen per kilogramme (kg), while latex in bulk climbed 6.5 sen to 579 sen per kg.
-- BERNAMA
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