Rubber Market Ends Higher on Supply Concerns

By Fatin Umairah Abdul Hamid

KUALA LUMPUR, Dec 5 (Bernama) -- The Kuala Lumpur rubber market ended higher on Friday, supported by ongoing concerns over natural rubber supply shortages due to rainy weather and optimism from improved Chinese economic data, said a dealer.

The dealer said it includes reports on China’s rubber demand, which has grown steadily since 2020.

“Nevertheless, the gains were limited by falling benchmark crude oil prices and a stronger ringgit against the US dollar, amid concerns over weakening Chinese auto sales,” he told Bernama.

At the time of writing, Brent crude oil was down 0.1 per cent to US$63.24  per barrel.

Meanwhile, at the opening on Friday morning local time, the ringgit was firmer at 4.10 against the greenback from Thursday’s close of 4.11.

At 3 pm, the Malaysian Rubber Board said the price of Standard Malaysian Rubber (SMR) 20 was up by 1.5 sen to 715.5 sen per kilogramme (kg), while latex-in-bulk rose by a sen to 575.5 sen per kg.

-- BERNAMA