By Siti Noor Afera Abu
KUALA LUMPUR, Sept 2 (Bernama) -- The Malaysian rubber market closed higher on Tuesday, supported by gains in regional rubber markets and steady benchmark crude oil prices, a dealer said, said a dealer.
The dealer noted that sentiment was also buoyed by a brighter natural rubber (NR) demand outlook for 2025 from the Association of Natural Rubber Producing Countries (ANRPC), despite ongoing concerns over NR supply shortages due to the rainy season and growing optimism for further Chinese stimulus.
”Nevertheless, further gains were capped by weaker Chinese economic data amid uncertainty over United States trade tariffs and interest rate cuts,” he told Bernama.
Japanese rubber futures rose today, tracking crude oil higher on supply concerns following heavy rain in top producer Thailand and expectations of stronger demand from automobile manufacturers.
Oil prices also edged higher as concerns about supply disruptions mounted amid the escalating conflict between Russia and Ukraine.
At 3 pm, the Malaysian Rubber Board reported that the price of Standard Malaysian Rubber (SMR) 20 increased by 9.5 sen to 753.0 sen per kilogramme (kg) while latex in bulk gained six sen to 575.50 sen per kg.
The market was closed yesterday for the replacement National Day public holiday.
-- BERNAMA
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