18 Dec 2014
Kuala Lumpur – The Malaysian Rubber Board has issued its November review of the Kuala Lumpur rubber market saying the market was expected to continue to show a “mixed trend”
“On the positive side, prices went up on various factors including a weaker ringgit, the rise in regional futures markets following an increase in prices of crude oil and base metals and the move by the International Tripartite Rubber Council (ITRC) countries to address the problem of low rubber prices.
“Nevertheless, on the negative side, the market was affected by the low Chinese demand and the decision of OPEC countries not to cut their oil output,” said the report.
The report concluded that the Kuala Lumpur rubber market “shall remain mixed” due to weak rubber fundamentals and negative market sentiments, besides being influenced by the performance of regional futures markets.
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