Rubber Market Ends Mixed On Higher Supply, Weak China Tyre Demand

By Fatin Umairah Abdul Hamid

KUALA LUMPUR, Nov 12 (Bernama) -- The Kuala Lumpur rubber market ended mixed on Thursday as increased seasonal rubber supply in Thailand and subdued tyre demand in China weighed on market sentiment, a dealer said.

She said Thailand had entered its peak harvesting season following the rainy period, resulting in higher rubber supply availability.

“However, further losses were cushion by a weaker ringgit against the US dollar and concerns over potential supply disruptions due to El Nino conditions.

“Growing global electric vehicle sales and stronger US trade activity were also seen to support natural rubber demand,” she told Bernama.

At 3 pm, the price of Standard Malaysian Rubber 20 (SMR 20) rose by 1.0 sen to 1,005.50 sen per kilogramme (kg), while latex in bulk decreased by 1.0 sen to 777.0 sen per kg.

-- BERNAMA