Rubber Market Closes Lower Tracking Regional Markets, Crude Oil Prices

Kuala lumpur: The Malaysian rubber market eased slightly at the close on Wednesday, tracking losses in regional rubber futures markets and crude oil prices amid weak Chinese economic data, a dealer said.

According to BERNAMA News Agency, at the time of writing, Brent crude oil price slid 0.33 percent to US$66.98 per barrel. Japanese rubber futures also edged lower as traders weighed the impact of weather risks and global economic uncertainty.

Further losses were capped by concerns over the tight natural rubber supply. At 3 pm, the Malaysian Rubber Board reported that the price of Standard Malaysian Rubber (SMR) 20 declined 6.0 sen to 745.5 sen per kilogramme (kg), while latex in bulk remained unchanged at 571 sen per kg.