Kuala lumpur: The Malaysian rubber market ended lower, tracking the mixed performance across regional rubber futures, a dealer said. She noted that market sentiment was affected by weaker crude oil prices and a firmer ringgit against the United States (US) dollar amid a subdued US economic outlook.
According to BERNAMA News Agency, losses in the rubber market were cushioned by reports of declining local natural rubber production and strong global electric vehicle (EV) sales. China's renewed efforts in the EV sector and uncertainties surrounding the European Union Deforestation Regulation (EUDR) implementation, as EU member states seek an additional one-year postponement, also provided some support.
Meanwhile, Japanese rubber futures climbed for the fourth consecutive session, supported by a softer yen and positive sentiment in the auto sector. Oil prices fell slightly in Asian trade, with marginal support from indications that the US government shutdown is nearing an end.
At the time of writing, Brent crude oil slid 0.64 percent to US$64.75 per barrel. At 3 pm, the Malaysian Rubber Board (MRB) reported that the price of Standard Malaysian Rubber 20 (SMR 20) eased by 2.5 sen to 719.5 sen per kilogramme (kg), while latex-in-bulk inched down by 1.5 sen to 568.5 sen per kg.