Kuala lumpur: The rubber market is expected to continue its upward momentum next week, supported by firm crude oil prices and potential supply disruptions.

According to BERNAMA News Agency, the Malaysian Rubber Glove Manufacturers Association (MARGMA) noted that rubber prices, which reached new highs this week, are likely to continue trending upward. MARGMA highlighted that the increase in rubber prices is driven by firmer crude oil prices and expected supply disruptions following the United States' blockade of Iranian ports.

Additionally, the association pointed out that encouraging signs from China's latest economic policies may further support demand in the rubber market. However, industry expert Denis Low mentioned that the market could experience some volatility, with a softer bias, as it remains in a short supply position without clear reasons.

The rubber market was closed yesterday in conjunction with the Labour Day public holiday and is scheduled to resume trading on May 4. On a weekly basis, the Malaysian Rubber Board's reference price for Standard Malaysian Rubber 20 (SMR 20) rose by 18 sen to 859 sen per kilogramme (kg), while latex-in-bulk decreased 6.5 sen to 751 sen per kg.