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Monday, December 6, 2021

Rubber market ends mostly lower

KUALA LUMPUR (Oct 3): The Malaysian rubber market closed mostly lower today in line with quiet trading in regional rubber futures markets, amid lack of fresh catalysts, said a dealer.

The dealer said, however, losses were limited by firmer crude oil prices.

Global benchmark Brent crude oil climbed 0.45% to US$85.18 per barrel today.

“Oil prices remained firm on expectations of tighter markets once the US sanctions target Iran’s petroleum industry from next month, although a strong dollar and rising US crude supply curbed gains,” he told Bernama.

At 12pm, the Malaysian Rubber Board’s official physical price for tyre-grade SMR 20 was 4.5 sen easier at 547.5 sen a kg, and latex-in-bulk fell 1.5 sen to 402.0 sen a kg.

The 5pm closing price for tyre-grade SMR 20 lost one sen to 548.5 sen a kg, while latex-in-bulk rose seven sen to 407.0 sen a kg. — Bernama

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