Rubber Market Ends Lower On Lower Crude Oil Prices, Mixed Regional Futures

By Nur Athirah Mohd Shaharuddin

KUALA LUMPUR, Nov 25 (Bernama) -- The Malaysian rubber market ended lower today due to lower benchmark crude oil prices and mixed signals from regional futures, a dealer said.

She said sentiment was also pressured by weaker rubber demand as upstream processors reduced inventories following the delay in the European Union Deforestation Regulation (EUDR).

“Nevertheless, further losses were limited by ongoing concerns over supply disruptions from heavy rains in major producing countries, as well as improved sentiment from recent positive United States-China trade developments and rising optimism over potential US interest rate cuts,” she told Bernama.

The dealer said that oil prices slipped as oversupply worries outweighed concerns over possible sanctions on Russian exports.

She added that rubber demand may also ease as processors cut stocks, while the EUDR delay lets tyre makers postpone compliant purchases, pressuring premiums.

At 3 pm, the Malaysian Rubber Board (MRB) reported the price of Standard Malaysian Rubber 20 (SMR 20) was down by 3.5 sen to 724.00 sen per kilogramme (kg), while latex-in-bulk inched down by two sen to 570 sen per kg.

-- BERNAMA