KUALA LUMPUR: The local rubber market closed lower on Thursday, reflecting a broader downtrend in the regional rubber futures market influenced by U.S. economic policies, as reported by a dealer. Concerns over Chinese manufacturing activity and global political uncertainties further impacted market sentiment.

According to BERNAMA News Agency, the dealer noted that despite the decline, losses were limited by rising benchmark crude oil prices and a weakening ringgit against the U.S. dollar. These factors were compounded by supply disruptions caused by adverse weather conditions in Thailand and Malaysia.

At 3 p.m., the Malaysian Rubber Board (MRB) reported that the price of Standard Malaysian Rubber (SMR) 20 decreased by 9.5 sen to 879.50 sen per kilogramme, down from 889 sen on December 30, 2024. Additionally, the price of latex in bulk dropped by three sen to 694 sen per kilogramme from 697 sen previously.

In a move to enhance market transparency, the MRB announced it would publish the rubber reference price once daily at 3 p.m., starting today.