By Fatin Umairah Abdul Hamid
KUALA LUMPUR, March 29 (Bernama) -- The rubber market is expected to be soft next week due to the Hari Raya Aidilfitri holidays, said the Malaysian Rubber Glove Manufacturers Association (MARGMA).
“Prices will continue to track regional rubber futures markets, benchmark crude oil prices and the strength of the ringgit against the United States (US) dollar.
“Natural rubber (NR) supply will be tight with the onset of the wintering season and rainy weather. There will be impact from the US tariff decisions and slow Chinese economic growth,” the association told Bernama.
A dealer concurred that there are concerns over NR supply amid the start of the wintering season. Rainy weather will also weigh on sentiment.
“Market players will be monitoring the US tariff decisions and Chinese economic growth, alongside the escalating geopolitical crisis,” she said.
On a Friday-to-Friday basis, the Malaysian Rubber Board’s reference price for Standard Malaysian Rubber 20 (SMR 20) decreased by 5.5 sen to 874.5 sen per kilogramme (kg) while latex in bulk declined by 17.5 sen to 671 sen per kg.
The Kuala Lumpur market will be closed from March 31 to April 1, 2025 for the Hari Raya Aidilfitri celebration. It will resume on April 2, 2025.
-- BERNAMA
