Rubber Market Rebounds, Tracking Positive Regional Markets
KUALA LUMPUR, March 14 (Bernama) -- The Malaysian rubber market rebounded on Friday, bolstered by the upward momentum in regional rubber markets and steady benchmark crude oil prices as the ringgit weakened against the US dollar, said a dealer.
She said prices were also supported by the seasonal tightening of raw materials in major producing countries, such as in Thailand, amid optimism for further Chinese stimulus measures.
“Nevertheless, further gains were capped by the escalating global trade tensions,” the dealer told Bernama.
The Malaysian Rubber Board reported that Standard Malaysian Rubber (SMR) 20 rose by 11.5 sen to 884.50 sen per kilogramme (kg) as of 3 pm, while latex in bulk increased 1.0 sen to 697.50 sen per kg.
-- BERNAMA