Rubber Market Extends Losses Amid Weaker Oil Prices, Trade Concerns
By Fatin Umairah Abdul Hamid
KUALA LUMPUR, March 27 (Bernama) -- The Malaysian rubber market extended its losses on Thursday amid mixed performance in regional rubber markets and declines in benchmark crude oil prices, said a dealer.
She said oil prices dipped slightly as traders assessed the impact of United States (US) President Donald Trump's proposed auto tariffs against concerns over a tighter global supply.
At the time of writing, Brent crude oil prices were up 0.31 per cent at US$73.56 per barrel.
The dealer noted that market sentiment remained weak due to additional US trade tariffs and disappointing Chinese economic data.
“Nevertheless, further losses were capped by the tightening of natural rubber supply in major producing countries and weaker ringgit against the US dollar amid optimism for further Chinese stimulus measures,” she told Bernama.
At 3 pm, the Malaysian Rubber Board reported that Standard Malaysian Rubber (SMR) 20 eased 2.5 sen to 878.5 sen per kilogramme, while latex in bulk fell three sen to 675 sen per kilogramme.
-- BERNAMA