Rubber Market Ends Higher Amid Gains In Regional Futures

By Muhammad Fawwaz Thaqif Nor Afandi

KUALA LUMPUR, June 22 (Bernama) -- The Kuala Lumpur rubber market ended higher on Monday, with both SMR 20 and latex-in-bulk climbing to fresh 2026 highs.

A dealer said the gains were driven by advances in regional rubber futures markets amid concerns over tightening rubber supply due to heavy rainfall in Thailand.

“Thailand’s Meteorological Agency warned of heavy rains and thunderstorms in the south from June 22 until June 27, which would curb supply and keep prices firm,” she told Bernama.

She added that market sentiment was also lifted by optimism over the West Asia peace deal and a weaker ringgit against the US dollar.

“Iran and the United States made significant progress in peace talks, with negotiations set to continue, while Iran reported the lifting of the US naval blockade, waivers for oil and petrochemical exports, and the launch of a major reconstruction and development programme,” she added.

At 8 am, the local note slipped to 4.1350/1445 against the greenback from last Friday’s close of 4.1340/1395.

However, she said further gains were capped by declining crude oil prices and expectations that US interest rates will remain higher for longer.

At 3 pm today, the price of SMR 20 rose by seven sen to 953 sen per kg, while latex-in-bulk was up by one sen to 795.5 sen per kg. 

-- BERNAMA