SHFE rubber futures rise tracking equities
Rubber futures traded on the Shanghai Futures Exchange (SHFE) settled as much as 1.6 percent higher on Monday (December 17, 2012), tracking the extended buoyancy in the local equity market.
The most actively traded contract for May 2013 delivery ended at 25,345 yuan/metric ton, up 385 yuan or 1.54 percent.
According to a statement issued after the conclusion of a two-day central economic work conference,Chinawill maintain a proactive fiscal policy and prudent monetary policy in 2013. Meanwhile,Chinawill “properly expand the amount of social financing to maintain a moderate increase in loan issuances” and keep the yuan’s exchange rate “basically stable” next year.
Market sentiment is upbeat but corrections are expected after the recent surges, analysts note.
(Contributed by Olivia, olivia@tireworld.com.cn)
- Tireworld Insight: Domestic tire makers eye overseas expansion
- Tireworld Insight: Price disparity severe between China's rubber exports and imports
- Tireworld Insight: China tire exports dependent on US market performance
- Tireworld Insight: SHFE rubber expected to move in tight range in short-term
- Tireworld Insight: Rubber futures to test near-term resistance at 15,000 yuan/tonne
- Tireworld Insight: China’s tire industry on track of rapid growth
