Rubber Market Ends Mixed Amid Weak Regional Futures, Softer Oil Prices

By Fatin Umairah Abdul Hamid

KUALA LUMPUR, Oct 10 (Bernama) -- The Malaysian rubber market ended mixed on Friday, influenced by weaker cues from regional rubber futures and declining crude oil prices, said a dealer.

The dealer said market sentiment was also dampened by weak United States (US) economic data amid the prolonged US government shutdown.

“Nevertheless, further losses were capped by a slightly weaker ringgit against the US dollar and optimism on positive Chinese economic data amid traders’ concerns on natural rubber supply shortage due rainy season in major producing countries,” she told Bernama.

Japanese rubber futures rose for the third consecutive session, supported by a rebound in raw material prices following heavy rainfall in major producing areas.

At the time of writing, Brent crude was down 0.64 per cent to US$64.83 per barrel.

Meanwhile, at 3 pm, the Malaysian Rubber Board reported that the price of Standard Malaysian Rubber 20 (SMR 20) eased by 0.5 sen to 739.5 sen per kilogramme (kg), while latex-in-bulk remained unchanged at 574 sen per kg.

-- BERNAMA