Rubber Market Closes Lower, Tracking Losses In Regional Futures

By Engku Shariful Azni Engku Ab Latif

KUALA LUMPUR, Dec 1 (Bernama) -- The Kuala Lumpur rubber market closed lower on Monday, following declines in regional rubber futures markets amid weak economic data from China and other Asian countries, a dealer said.

However, she said firmer crude oil prices and renewed hopes of additional Chinese stimulus limited further losses.

At the time of writing, the Brent crude oil price rose 1.86 per cent to US$63.55 per barrel.

“Market sentiment was also supported by encouraging 2025 automobile sales projections, ongoing rainfall in major natural rubber-producing countries, and rising expectations of a United States rate cut this month,” the dealer told Bernama.

She noted that Japanese rubber futures fell on Monday, pressured by a stronger yen and soft demand from the automobile sector. However, losses were limited by heavy rainfall across several key rubber-producing regions.

At 3 pm, the Malaysian Rubber Board said that the price of Standard Malaysian Rubber (SMR) 20 was down by 5.5 sen to 720.5 sen per kilogramme, while latex-in-bulk inched down by a sen to 577 sen per kilogramme.

-- BERNAMA