KUALA LUMPUR, Feb 26 — The Malaysian rubber market was slightly lower today in tandem with the easier regional rubber futures markets and losses in crude oil prices, said a dealer.
She noted that the Japanese rubber futures fell today, as growth in inventories and a stronger yen weighed on market sentiment.
Benchmark Brent crude for March delivery was 0.54 per cent lower, trading at US$81.19 per barrel as at 4.12 am Central Daylight Time.
A dealer said however, further losses were limited by fresh concerns about the global natural rubber shortage and optimism over stimulus measures from China.
“Market players are expected to monitor upcoming key economic readings this week, especially the US inflation reading, for further clues on global interest rate outlook,” she said.
The Malaysian Rubber Board’s (MRB) price for SMR 20 was three sen lower at 756.5 sen per kilogramme (kg) while latex-in-bulk eased 0.5 sen to 695 sen per kg.
Meanwhile, at 5 pm, MRB’s reference price for physical rubber SMR 20 stood at 756 sen per kg while latex-in-bulk was at 698 sen per kg. — Bernama
