Latest news with #DenisLow
Barnama
3 days ago
- Business
- Barnama
Cautious Trading Ahead For Rubber Market Amid Supply Concerns
By Siti Noor Afera Abu KUALA LUMPUR, May 31 (Bernama) -- The local rubber market is likely to remain on a downtrend next week as businesses are still cautious about the global market outlook, according to the Malaysian Rubber Glove Manufacturers Association (MARGMA). The association said prices will likely be affected by the supply shortages due to the weather conditions, the strength of the ringgit, crude oil price movements, and the unpredictable nature of the United States-China trade relations and China's economic policies. 'These will contribute to a volatile and uncertain market for rubber in the coming week,' MARGMA told Bernama. Industry expert Denis Low also echoed this view, noting that weather-driven supply disruptions could further add to market volatility. For the week just ended, the Kuala Lumpur rubber market ended on a downtrend this week, weighed down by declines in regional rubber futures markets, weaker benchmark crude oil prices and a stronger ringgit against the US dollar. On a week-to-week basis, the Malaysian Rubber Board's reference price for Standard Malaysian Rubber 20 (SMR 20) fell by 42 sen to 698.5 sen per kilogramme (kg), while latex in bulk decreased by 6.5 sen to 620.5 sen per kg. The Kuala Lumpur rubber market will be closed on June 2, 2025 (Monday) in conjunction with His Majesty Sultan Ibrahim's official birthday and will commence operations on Tuesday. -- BERNAMA
Barnama
26-05-2025
- Business
- Barnama
Rubber Market To Trade In Stable Mode Next Week With Upward Bias
By Nur Athirah Mohd Shaharuddin KUALA LUMPUR, May 24 (Bernama) -- The Malaysian rubber market is expected to trade in a stable mode next week, with a tendency towards an upward bias, amid the ongoing 90-day pause in United States (US) tariffs, which offers breathing space to the global economy. Industry expert Denis Low said that, as a result, prices and demand are likely to remain balanced, with a slight inclination towards higher levels. He opined that the ongoing uncertainties caused by tariffs imposed by US President Donald Trump are certainly eroding economic optimism. 'Whenever optimism is lacking, the desire to be expansionary in all aspects of commerce will be affected. With such negativism prevailing, it can impact most commodities, including rubber, in two ways. 'The lack of optimism will reduce the willingness to increase production adequately. If left unchecked, this can balloon into a shortage, which is already beginning to occur in the rubber sector,' he told Bernama. Meanwhile, the Malaysian Rubber Glove Manufacturers Association (MARGMA) said the rubber market is expected to face mixed pressures next week, with the potential for supply disruptions balanced by continued demand from key sectors and supportive Chinese policies. The association noted that prices are expected to continue tracking the performance of regional rubber futures markets, the ringgit strengthening against the US dollar and benchmark crude oil prices. 'The wet weather season will continue to affect natural rubber supply in major producing countries, while developments related to US trade negotiations are still causing some uncertainties,' it said.
