Rubber Market Ends Mixed, Tracking Regional Rubber Futures

By Nur Athirah Mohd Shaharuddin

KUALA LUMPUR, April 20 (Bernama) -- The Kuala Lumpur rubber market ended mixed on Monday, tracking gains in regional rubber futures amid firmer benchmark crude oil prices, said a dealer.

He said the market sentiment was also supported by steady Chinese rubber demand and encouraging global electric vehicle (EV) sales.

“However, further gains were capped by lingering global economic uncertainty amid caution over the United States Federal Reserve's policy outlook,” he told Bernama.

The dealer noted that oil rebounded on Monday after a nine per cent drop, as the Strait of Hormuz was shut again following “ceasefire violations” between the United States and Iran.

Additionally, he said it was reported that Chinese rubber demand remained firm, supported by higher tyre factory utilisation.

“European EV sales surged, driven by high fuel prices, boosting demand for electric vehicles and supporting the broader auto sector outlook,” he said.

At 3 pm, Standard Malaysian Rubber (SMR) 20 rose by 18.5 sen to 822 sen per kilogramme (kg), while latex in bulk decreased by 1.5 sen to 769 sen per kg.

-- BERNAMA