SHFE rubber extends loss on Tuesday
2012-10-24 0:00:00Font Size：Big Medium Small
Rubber futures traded on the Shanghai Futures Exchange (SHFE) extended losses on Tuesday (October 23, 2012) tracking the movements on the Tokyo Commodity Exchange (TOCOM).
The most actively traded contract for January 2013 delivery ended at 24,115 yuan/metric ton, down 585 yuan or 2.37%.
Rubber prices are expected to go up around mid-November, particularly asChinawill be purchasing ahead of the Lunar New Year, says market observers.
Short-term resistance are estimated at 24,000 yuan/metric ton.
(Contributed by Olivia, olivia@tireworld.com.cn)
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