Rubber Market Ends Lower, Tracking Mixed Regional Futures

By Engku Shariful Azni Engku Ab Latif

KUALA LUMPUR, Nov 12 (Bernama) -- The Malaysian rubber market ended lower, tracking the mixed performance across regional rubber futures, a dealer said.

She said market sentiment was weighed down by weaker crude oil prices and a firmer ringgit against the United States (US) amid a subdued US economic outlook.

"Nevertheless, losses were cushioned by reports of declining local natural rubber production and robust global electric vehicle (EV) sales.

"China’s renewed push in the EV sector and uncertainties surrounding the European Union Deforestation Regulation (EUDR) implementation as EU member states seek an additional one-year postponement also provided some support," she told Bernama.

Meanwhile, she said Japanese rubber futures climbed for the fourth consecutive session, supported by a softer yen and positive sentiment in the auto sector.

She noted that oil prices fell slightly in Asian trade, with marginal support from indications that the US government shutdown is coming closer to an end.

At the time of writing, Brent crude oil slid 0.64 per cent to US$64.75 per barrel.

At 3 pm, the Malaysian Rubber Board (MRB) reported that the price of Standard Malaysian Rubber 20 (SMR 20) eased by 2.5 sen to 719.5 sen per kilogramme (kg), while latex-in-bulk inched down by 1.5 sen to 568.5 sen per kg.

-- BERNAMA