Rubber Market Ends Mixed Amid Cautious Sentiment

By Nur Athirah Mohd Shaharuddin

KUALA LUMPUR, April 21 (Bernama) -- The Kuala Lumpur rubber market ended mixed on Tuesday in line with regional rubber futures amid declining crude oil prices and weaker vehicle sales, a dealer said.

She said market sentiment remained cautious due to uncertainties surrounding the United States-Iran peace talks.

“Oil prices fell on Tuesday, reversing gains in the previous session on expectations that peace talks between the US and Iran will take place this week and allow more supply toflow from the key West Asian producing region,” she told Bernama.

At 5.17 pm, Brent crude oil fell by 0.29 per cent to US$95.22 per barrel.

She said that global light vehicle sales in March declined by 3.5 per cent year-on-year to 8.2 million units, mainly due to significant contractions in the US and China.

The dealer also noted that Shanghai rubber futures gained on Tuesday, supported by firmer physical prices in Thailand and high synthetic rubber prices.

-- BERNAMA