Kuala lumpur: The Malaysian rubber market ended lower on Monday, mirroring the trends in regional rubber futures markets. This decline was primarily driven by profit-taking activities that caused a short-term pullback, a dealer noted.

According to BERNAMA News Agency, the market sentiment was further impacted by unfavorable economic data from China. Despite these challenges, the losses were somewhat mitigated by rising crude oil prices and a shortage of natural rubber due to ongoing rain in key producing countries. Brent crude oil prices increased by 0.48 percent to reach US$68.75 per barrel, which helped in capping further market declines.

The dealer highlighted the cautious approach of market participants as they awaited the Federal Reserve meeting and the results of renewed trade discussions between the United States (US) and China. The US and China are anticipated to prolong their tariff truce by 90 days during upcoming trade talks in Stockholm. The temporary suspension of most tariffs, initially agreed upon in May, is set to expire on August 15, 2025.

Additionally, the dealer mentioned that the US has temporarily halted restrictions on technology exports to China, aiming to facilitate progress in trade negotiations. The Malaysian Rubber Board (MRB) reported a decline in the price of Standard Malaysian Rubber 20 (SMR 20) by 19.5 sen to 734.50 sen per kilogramme, while latex in bulk decreased by 2.5 sen to 576.50 sen per kg.