The Kuala Lumpur rubber market declined on Tuesday due to losses in regional rubber futures markets and falling crude oil prices, attributed to profit-taking activities, according to a dealer.
However, further losses were limited by a weaker ringgit against the US dollar and reduced local natural rubber production amid tight rubber supply, the dealer told Bernama.
Rubber Market Price
Market traders are closely monitoring crucial United States economic data and the outcome of the US monetary policy meeting this week, Bernama reported.
The Malaysian Rubber Board’s (MRB) price for Standard Malaysian Rubber 20 (SMR 20) fell by 9.5 sen to 850 sen per kilogramme (kg), while latex-in-bulk declined by 2 sen to 674 sen per kg.
Leave a Reply
You must be logged in to post a comment.