Kuala Lumpur: The local rubber market closed lower on Thursday, influenced by the stronger ringgit against the United States (US) dollar amid ongoing concerns about the global trade war, a dealer stated.

According to BERNAMA News Agency, the local currency was performing better, trading at 4.4210/4250 against the US dollar compared to 4.4270/4320 at the previous day’s close. Despite the decline, the losses were limited by a shortage of natural rubber supply due to the low season in major producing countries.

Japanese rubber futures reached a three-and-a-half-month low on Thursday, affected by fears of a trade war between the US and China, the largest rubber consumer. However, some relief was provided by tariff reprieves for certain automakers, softening the impact.

The Malaysian Rubber Board indicated that Standard Malaysian Rubber (SMR) 20 reduced by 4.5 sen to 904.50 sen per kilogramme (kg) as of 3 pm, while latex in bulk decreased by 2.5 sen to 710.00 sen per kg.