Rubber market ends lower on global slowdown worries
20 Oct 2022 05:54pm
Image for illustrative purposes only - BERNAMA
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Strong inflation globally that’s driving aggressive monetary policy and the expectation of an automotive market slowdown in 2023 also weighed on sentiment, she said.
"Nevertheless, further losses were capped by steady crude oil prices and a continuous weaker ringgit against the US dollar,” she added.
Japanese rubber futures fell on Thursday, tracking losses in the Shanghai market.
At press time, the benchmark Brent crude oil price stood at US$93.39 per barrel.
The Malaysian Rubber Board’s (MRB) price for Standard Malaysian Rubber 20 (SMR 20) was down by 15.50 sen to 591.5 sen per kg, while latex-in-bulk declined by 3.00 sen to 463.0 sen per kg.
At 5 pm, MRB’s closing price for SMR 20 stood at 590.0 sen a kg, while latex-in-bulk was at 462.0 sen a kg. - BERNAMA
