Rubber Prices Likely To Trend Lower Next Week Due To Geopolitical Tensions
By Abdul Hamid A Rahman and K. Naveen Prabu
KUALA LUMPUR, June 21 (Bernama) -- The rubber market is expected to trend lower next week, weighed down by escalating geopolitical tensions in the Middle East, according to the Malaysian Rubber Glove Manufacturers Association (MARGMA).
A spokesperson from MARGMA said the market sentiment remains fragile and continues to pressure investor confidence and business activities.
'The market may experience a downtrend next week due to escalating geopolitical tensions, persistent global economic uncertainty, and weakening demand from China and the United States.
'The market will remain highly sensitive to regional rubber futures, movements in the ringgit against the US dollar, and fluctuations in crude oil benchmarks,' she said.
Meanwhile, industry expert Denis Low said the rubber market is expected to trade cautiously with a lower bias next week, with replenishment activities serving as the primary driver.
'Weather disruptions are another key factor to watch, as the Thai Meteorological Department has warned of intensified Southwest Monsoon activity, which could bring heavy rainfall and strong winds to rubber-producing regions,' he said.
On a week-to-week basis, the Malaysian Rubber Board's reference price for Standard Malaysian Rubber 20 (SMR 20) rose by half a sen to 703.5 sen per kilogramme (kg), while latex in bulk increased by 10 sen to 589.0 sen per kg.
-- BERNAMA
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