By Danni Haizal Danial Donald
KUALA LUMPUR, Oct 15 (Bernama) -- The Malaysian rubber market ended mixed today, due to gains in regional rubber futures, supported by concerns over natural rubber supply amid the ongoing rainy season in major producing countries, said a dealer.
She told Bernama that market sentiment was lifted by strong automobile sales in China and steady crude oil prices, but capped by increased economic uncertainty in the United States (US) and renewed concerns over the US-China trade dispute.
“The Japanese rubber futures rose, reflecting broader market confidence and higher demand expectations. Additionally, Thailand’s meteorological agency warned of heavy rains and accumulations from Oct 16-18,” she said.
She added that the US Federal Reserve chair Jerome Powell has noted that the US has weak job market data and above-target inflation, creating a policy dilemma and economic uncertainty.
“Renewed US-China trade tensions have resurfaced, marked by the imposition of reciprocal port fees on vessels associated with each other’s fleets,” she added.
At 3 pm, the Malaysian Rubber Board reported that the price of Standard Malaysian Rubber 20 (SMR 20) rose seven sen to 739.50 per kilogramme (kg), while latex-in-bulk was slightly down by 1.5 sen to 571.50 per kg.
-- BERNAMA
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