Kuala lumpur: The Malaysian rubber market concluded its trading session on a lower note, influenced by declining oil prices and a varied performance in regional rubber futures markets, a dealer shared.

According to BERNAMA News Agency, market sentiment experienced further pressure due to an increase in supply following the establishment of a zero-tariff pilot trade programme between China and Thailand. Despite this, potential losses were somewhat mitigated by rising expectations of interest rate reductions in the United States and anticipated additional stimulus measures from the Chinese government.

The dealer highlighted that while oil prices saw a slight decrease because of concerns over softening demand in the US and oversupply risks, the extent of losses was curtailed by apprehensions surrounding the ongoing geopolitical tensions in Qatar and Ukraine. The Chinese information portal Carbon Black Industry Network reported that the zero-tariff pilot, which encompasses 400 tonnes of rubber, is projected to lower trade costs and improve supply chain efficiency.

As reported at 3 pm, the Malaysian Rubber Board indicated that the price of Standard Malaysian Rubber (SMR) 20 had decreased by 7.5 sen to 738.0 sen per kilogramme, with latex-in-bulk dropping by one sen to 576.0 sen per kilogramme.