The stronger Malaysian ringgit pressures the rubber market, with weak domestic and international demand dragging prices lower.
智通财经2026/08/14 09:31- The Malaysian rubber market closed lower on Friday, mainly due to a slight strengthening of the ringgit against the US dollar. The local currency rose to the 4.0835-4.0895 range, moving higher compared to the previous day’s close, which put pressure on rubber prices denominated in US dollars.
- According to traders, weak consumption demand in the Chinese market and intense price competition in the domestic automotive sector continue to dampen market sentiment. Although there has been some improvement in overseas sales, weak local demand is still limiting short-term growth expectations.
- However, international oil prices rose, supported by supply concerns after the United States threatened to impose a maritime blockade on Iran. Brent crude climbed nearly 1% to $87.90 per barrel, providing some support to the rubber market.
- In terms of closing quotations, the Malaysian Standard Rubber 20 grade fell by 7 sen to 909 sen per kilogram, while block rubber dropped 3.5 sen to 688.50 sen. Overall, the trading atmosphere remained subdued.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
New Zealand Dollar strengthens despite decreasing RBNZ rate hike odds
Report: Anthropic Plans to Raise Issuance Price, Seeks $1.5 Trillion Valuation, and Aims to Raise Over $100 Billion
Anthropic's IPO roadshow received strong investor demand within less than a day, prompting underwriters to consider raising the offering price to above $78 per share. The company’s valuation is expected to surpass 1.5 trillions USD, with total fundraising likely to exceed 100 billions USD. According to three Anthropic shareholders, the company's main goal is to raise as much capital as possible to support its extensive computing power expenditure plans.
BlackRock’s crypto portfolio falls by nearly $5 billion so far in November 2026
Crypto prices
More
