Kuala lumpur: The Kuala Lumpur rubber market concluded in a mixed state on Monday, influenced by regional rubber futures, a dealer reported.

According to BERNAMA News Agency, the rubber tapping in China's Hainan province faced delays due to a heat wave, which provided short-term support to rubber prices. Nonetheless, Japanese rubber futures experienced a decline on Monday, driven by expectations of increased supply and softened physical prices, which also impacted the market.

The sentiment in the rubber market was further affected by weaker Chinese car sales as the United States-Iran ceasefire discussions showed no progress. The collapse of US-Iran peace talks in Islamabad has left a fragile ceasefire in jeopardy, with no plans to release West Asia energy exports, dampening investors' risk appetite. The China Passenger Car Association noted a more than 17 percent drop in car sales in China during the first quarter compared to the previous year, following the country's reduction of the purchase tax exemption on new energy vehicles.

Despite these challenges, the dealer highlighted that further losses were mitigated by increases in crude oil prices and declines in domestic natural rubber production. Oil prices surged above US$100 a barrel after US President Donald Trump announced that the US Navy would begin blockading the Strait of Hormuz.

At the time of reporting, Brent crude had risen by 7.96 percent to US$102.80 per barrel. At 3 pm, the Standard Malaysian Rubber (SMR) 20 decreased by nine sen to 814 sen per kilogramme, while latex in bulk rose by five sen to 759.5 sen per kilogramme.