Kuala lumpur: The Kuala Lumpur rubber market ended mixed on Monday, tracking gains in regional rubber futures amid firmer benchmark crude oil prices, said a dealer. He noted that the market sentiment was also supported by steady Chinese rubber demand and encouraging global electric vehicle (EV) sales.

According to BERNAMA News Agency, further gains in the rubber market were limited by the ongoing global economic uncertainty and caution regarding the United States Federal Reserve's policy outlook. The dealer mentioned that oil prices experienced a rebound on Monday, following a nine per cent drop, due to the closure of the Strait of Hormuz after ceasefire violations between the United States and Iran.

The report highlighted that Chinese rubber demand remained robust, bolstered by increased tyre factory utilisation. Additionally, European EV sales saw a rise, driven by high fuel prices, which boosted demand for electric vehicles and supported the broader outlook for the automotive sector.

At 3 pm, Standard Malaysian Rubber (SMR) 20 increased by 18.5 sen to 822 sen per kilogramme, while latex in bulk decreased by 1.5 sen to 769 sen per kilogramme.