Rubber Market Ends Higher On Raw Materials Supply Shortage Concerns
By Durratul Ain Ahmad Fuad
KUALA LUMPUR, April 17 (Bernama) -- The Malaysian rubber market ended higher today supported by raw materials supply shortage concerns due to wintering in major natural rubber (NR) producing countries and steady benchmark crude oil prices, a dealer said.
She said market sentiment was also lifted by growing hopes involving the United States (US) tariff negotiations and Chinese stimulus measures.
“Nonetheless, further losses were capped by a stronger ringgit against the US dollar amid concerns for the global economic outlook,” she told Bernama.
The dealer said oil prices extended gains on Thursday on the prospect of tighter supply after Washington imposed further sanctions to curb Iranian oil trade and as some Organisation of the Petroleum Exporting Countries (OPEC) members pledged more output cuts to compensate for pumping above agreed quotas.
At 3 pm, the Malaysian Rubber Board reported that the price of Standard Malaysian Rubber (SMR) 20 rose by 11.5 sen to 751.0 sen per kilogramme (kg), while latex in bulk was up by 2.5 sen to 651.5 sen per kg.
The Kuala Lumpur rubber market will be closed tomorrow, April 18, for Good Friday. It resumes operations next Monday, April 21, 2025.
-- BERNAMA