Malaysia NR market remains weak amid lacklustre trade

Kuala Lumpur – The Kuala Lumpur natural rubber (NR) market was weak in the month of June, amid poor market sentiment in the early part of the month, according to a recent monthly report by the Malaysian Rubber Board.

Global commodities and equities markets drifted lower in the first half of the month resulting from concerns over lingering trade tensions between the US and China.

Nevertheless, the market recovered modestly after mid-month owing to firmer oil prices and as the ringgit continued to depreciate against the US dollar.

Overall, according to the Malaysian Rubber Board, the rubber market ruled in “quiet condition and demand was not encouraging”, as most buyers were “on the sidelines, waiting for fresh leads.”