Kuala Lumpur Rubber Market Ends Lower On Weaker Regional Futures, Softer Crude Oil

By K. Naveen Prabu

KUALA LUMPUR, Dec 19 (Bernama) -- The Kuala Lumpur rubber market closed lower today following declines in regional rubber futures and softer crude oil prices, said a dealer.

She said market sentiment was further weighed down by expectations of improved weather in major natural rubber-producing countries.

“Thailand’s northeast monsoon is expected to weaken, reducing rainfall in the south from Dec 18-24,” she told Bernama.

At the time of writing, Brent crude oil price decreased 0.50 per cent to US$59.52 per barrel.

Nevertheless, she said further losses were limited by positive United States economic data. 

“US initial jobless claims rose to 224,000, in line with forecasts, signalling a steady labour market and supporting risk sentiment,” she said.

At 3 pm, the price of Standard Malaysian Rubber (SMR) 20 decreased 4.5 sen to 723.00 sen per kilogramme (kg) while latex-in-bulk declined by 1.5 sen to 575.00 sen per kg.

-- BERNAMA