Rubber Market Ends Mixed Amid Softer Regional Futures

By Fatin Umairah Abdul Hamid

KUALA LUMPUR, Dec 3 (Bernama) -- The Kuala Lumpur rubber market ended mixed on Wednesday following downward momentum in regional rubber futures and a slightly stronger ringgit against the US dollar, a dealer said.

He said market sentiment was also pressured by weak Chinese economic data and expectations of soft United States (US) auto sales.

US new-vehicle sales are expected to reach 1.27 million units in November, down one per cent month-on-month and eight per cent year-on-year, pressured by higher prices, weaker electric vehicle demand and fewer selling days, he noted.

“Losses were limited by firmer crude oil prices, concerns over natural rubber supply, including potential production cuts in Thailand due to severe flooding, supportive Chinese auto sales, and rising expectations of a US Federal Reserve rate cut next week,” he told Bernama.

At 3 pm, the Malaysian Rubber Board said the price of Standard Malaysian Rubber (SMR) 20 was down by 6.5 sen to 721.5 sen per kilogramme (kg), while latex-in-bulk rose by half-a-sen at 577.5 sen per kg.

-- BERNAMA