Rubber Market Closes Higher, Tracking Gains In Regional Futures, Crude Oil Prices

By Engku Shariful Azni Engku Ab Latif

KUALA LUMPUR, Dec 12 (Bernama) -- The Kuala Lumpur rubber market closed higher today, tracking the uptrend in regional rubber futures and firmer crude oil prices, a dealer said.

At the time of writing, the Brent crude oil price inched up 0.44 per cent to US$61.56 per barrel.

The dealer said market sentiment was further supported by concerns over reduced natural rubber supply due to adverse weather in Thailand and by optimism surrounding China’s economic policies.

“However, gains were capped by the strengthening ringgit against the US dollar and slower growth in electric vehicle sales,” she told Bernama today.

At 3 pm, the price of Standard Malaysian Rubber (SMR) 20 rose by 2.5 sen to 724 sen per kilogramme (kg), while latex-in-bulk remained unchanged at 575.5 sen per kg.

-- BERNAMA