Rubber Market Ends Lower Amid Mixed Regional Futures
By Nur Athirah Mohd Shaharuddin
KUALA LUMPUR, July 30 (Bernama) -- The Malaysian rubber market ended lower today amid a mixed trend in regional rubber futures.
A dealer stated that the market was further dampened as traders became cautious ahead of the looming US tariff deadline on Aug 1, following the breakdown of trade talks between the United States and China without any agreement.
“Nevertheless, further losses were capped by steady benchmark crude oil prices and encouraging global auto sales data, amid an improved global growth outlook projected by the International Monetary Fund (IMF),” he told Bernama.
The dealer said that investors turned cautious after trade talks between the United States and China ended without any substantive agreement and ahead of the US Federal Reserve's policy announcement.
Citing the IMF, he said the agency on Tuesday slightly raised its global growth forecasts for 2025 and 2026. This was attributed to stronger-than-expected purchases ahead of the Aug 1 deadline for US tariffs.
At 3 pm, the Malaysian Rubber Board (MRB) reported that the price of Standard Malaysian Rubber 20 (SMR 20) dropped seven sen to 727.00 sen per kilogramme (kg), while latex in bulk fell four sen to 573.50 sen per kg.
-- BERNAMA