Rubber ends higher amid mixed regional performance

Kuala Lumpur: The Malaysian rubber market ended higher Monday amidst the mixed performance of the regional rubber futures markets.

According to a dealer, demand for the commodity was supported by the improving United States’ (US) economic outlook, coupled with the prospects of China’s steady economic recovery this year. 

“Nevertheless, further gains were capped by a stronger ringgit against the US dollar and losses in the oil markets,” she said.

At the time of writing, Brent crude fell 0.48 per cent to US$64.22 per barrel.

The Malaysian Rubber Board’s (MRB) reference physical price for SMR 20 rose by one sen to 721.5 sen per kilogramme (kg), while latex-in-bulk increased 2.5 sen to 685.5 sen per kg. 

At 5 pm, the MRB’s closing price for SMR 20 stood at 723.5 sen per kg while latex-in-bulk was at 685.5 sen per kg.