KL RUBBER MARKET HIGHER, BOUYED BY REGIONAL FUTURES UPTREND

By Rosemarie Khoo Mohd Sani

KUALA LUMPUR, Jan 14 (Bernama) -- The Kuala Lumpur rubber market was higher today, supported by the uptrend in the regional rubber futures markets, said a dealer. 

The dealer said the Shanghai rubber futures recorded an uptick after the United States (US) announced a gradual trade tariff increase in 2025. 

According to reports, US President-elect Donald Trump’s team is preparing a plan for the gradual imposition of trade tariffs in the coming months, involving a monthly tariff hike of between two per cent to five per cent, giving Washington more leverage in trade negotiations while also preventing sudden spikes in inflation due to the duties. 

Besides, optimism for China’s further stimulus measures lifted the market amid prevailing wet weather affecting major natural rubber (NR) producers, lending some support to the prices, the dealer said.

Nevertheless, she said further gains were capped by losses in benchmark crude oil prices and a slightly stronger ringgit against the US dollar, as traders observed NR statistics released by the Department of Statistics  Malaysia. 

NR production increased by 0.2 per cent in November 2024 to 38,481 tonnes, compared with 38,400 tonnes in October 2024. 

At 3 pm, the Malaysian Rubber Board reported that the Standard Malaysian Rubber 20 was up by 10.0 sen per kilogramme (kg) to 883.50 sen per kg from Monday’s 873.50 sen per kg, while latex in bulk declined 2.0 sen per kg to 672.00 sen per kg from 674.00 sen per kg previously.

-- BERNAMA