Kuala Lumpur Rubber Market Ends Mixed Amid Regional Peers' Gains, Supply Disruption Concerns

By Durratul Ain Ahmad Fuad

KUALA LUMPUR, Nov 5 (Bernama) -- The Kuala Lumpur rubber market closed mixed today amid gains in regional rubber futures markets, as concerns over potential supply disruptions in major producing countries amid the rainy season lent support to prices, a dealer said. 

He said global market sentiment was also buoyed by Democrats’ gains in the United States midterm elections, which raised hopes of progress towards easing West Asia tensions and reducing inflationary pressures.

“Nevertheless, further gains were capped by a stronger ringgit against the US dollar,” he told Bernama. 

According to the dealer, Japanese rubber futures traded in a tight range on Thursday, as traders weighed a steep slide in oil prices against tight supply. 

“Meanwhile, Thailand's meteorological agency warned of heavy rain and flash floods in the south from Nov 6 to 9, potentially disrupting rubber tapping in key producing areas,” he said. 

At 3 pm, the price of Standard Malaysian Rubber 20 (SMR 20) rose by 2.5 sen to 973.5 sen per kilogramme (kg), while latex in bulk dropped by five sen to 773.5 sen per kg.

-- BERNAMA