Rubber Market Ends Mixed

By K. Naveen Prabu

KUALA LUMPUR, Aug 6 (Bernama) -- The Malaysian rubber market ended mixed today, in line with the regional rubber futures markets, according to a dealer.

She said gains in crude oil prices, however, supported market sentiment.

“Oil prices climbed, rebounding from a five-week low seen the previous day, amid concerns over potential supply disruptions following United States (US) President Donald Trump’s threat to impose tariffs on India over its Russian crude oil purchases,” she told Bernama.

At the time of writing, Brent crude oil rose by 0.83 per cent to US$68.20 per barrel.

Nevertheless, the dealer said that further gains were capped by mixed global economic performance, stemming from uncertainties surrounding the US trade tariffs.

“The US trade deficit narrowed in June on a sharp drop in consumer goods imports, and the trade gap with China fell to its lowest level in more than 21 years, the latest evidence of Trump’s sweeping tariffs leaving a marked impact on global commerce,” she added.

At 3 pm, the Malaysian Rubber Board (MRB) reported that the price of Standard Malaysian Rubber 20 (SMR 20) increased by 4.0 sen to 724.00 sen per kilogramme (kg), while latex in bulk fell by 1.5 sen to 565.50 sen per kg.

-- BERNAMA