Key Moments
- The Kuala Lumpur rubber market finished higher, aided by stronger crude oil prices and upbeat Chinese economic indicators.
- Brent crude was reported up 2.28 per cent at US$107.70 per barrel as United States-Iran peace talks stalled and shipments through the Strait of Hormuz remained limited.
- Standard Malaysian Rubber (SMR) 20 advanced to 850 sen per kg and latex-in-bulk edged up to 758 sen per kg by 3 pm.
Market Overview
By K. Naveen Prabu
KUALA LUMPUR, April 27 (Bernama) — The Kuala Lumpur rubber market closed on a firmer note, with prices supported by rising crude oil and favorable economic data from China, according to a trader.
Energy Market Influence
The trader noted that crude oil prices rose as United States-Iran peace negotiations stalled, while constrained shipments through the Strait of Hormuz kept global supply conditions tight.
At the time of writing, Brent crude was up 2.28 per cent at US$107.70 per barrel.
Support from Chinese Economic Data
The same trader highlighted that sentiment in the rubber market was additionally bolstered by stronger Chinese macroeconomic indicators.
“The National Bureau of Statistics reported that profits at China’s industrial firms rose 15.5 per cent in the first quarter from a year earlier, while fiscal spending increased 2.6 per cent over the same period as Beijing stepped up support for growth,” she said.
Currency Impact and Price Performance
Despite the generally positive backdrop, the trader said that further upside in rubber prices was limited by the appreciation of the ringgit against the US dollar, occurring alongside the stalled United States-Iran talks.
| Time | Grade | Price | Change |
|---|---|---|---|
| 3 pm | Standard Malaysian Rubber (SMR) 20 | 850 sen per kg | Up 9 sen |
| 3 pm | Latex-in-bulk | 758 sen per kg | Up 0.5 sen |
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