The Malaysian rubber market closed lower

The Malaysian rubber market closed lower

Kuala Lumpur: The Kuala Lumpur rubber market closed lower on Wednesday, following a stronger ringgit against the US dollar and mixed sentiment in the regional rubber futures market. Traders said market participants reacted to the latest developments in US-China trade following the US announcement of tariffs on Chinese imports.

“However, benchmark crude oil prices and China’s continued measures have limited further declines,” they told Bernama.

Meanwhile, President of the Malaysian Rubber Glove Manufacturers Association (MARGMA) Oon Kim Hung said the US tariff hike on Chinese goods could potentially signal good news for Malaysian rubber glove participants.

However, he expected no immediate impact as the US action would take effect in 2026, he said.

He said about 35 percent of Malaysia’s rubber glove exports are for the US market, contributing about RM4 billion in 2023.

“However, the US also has domestic production. We believe Malaysian producers will continue to invest in environmental, social, and governance matters, thus establishing sustainable and equitable prices,” he said.

The Malaysian Rubber Board (MRB) price for Malaysian Standard Rubber 20 (MSR 20) fell 1.5 sen to 772.50 sen per kilogram, while bulk latex dropped 1.0 sen to 726.0 sen per kilogram. Meanwhile, at 5 p.m., the MRB reference price for physical rubber for MSR 20 was at 775 sen per kilogram, while bulk latex was at 726.0 sen per kilogram.

CATEGORIES
Share This

COMMENTS

Wordpress (0)
Disqus ( )