SHFE rubber consolidates at low level on Wed.
2012-11-21 0:00:00Font Size：Big Medium Small
Rubber futures traded on the Shanghai Futures Exchange (SHFE) moved at a low level to settle in negative on Wednesday (November 21, 2012), extending the downside trend of the previous session.
The most actively traded contract for May 2013 delivery ended at 24,345 yuan/metric ton, down 155 yuan or 0.63 percent.
But rubber prices are expected to pick up in the near term, said a Medan-based trader, saying that supply is tight due to rain, which hinders tapping, and as many trees have been damaged due to overtapping over the past year on historically strong prices.
(Contributed by Olivia, olivia@tireworld.com.cn)
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