SHFE rubber futures rally on Mon., macro sentiment dominates
2012-12-3 0:00:00Font Size：Big Medium Small
Rubber futures traded on the Shanghai Futures Exchange (SHFE) rallied on Monday (December 3, 2012), as positive China PMI data boosts.
The most actively traded contract for May 2013 delivery ended at 24,300 yuan/metric ton, up 470 yuan or 1.97 percent.
A Singapore-based analyst says SHFU rubber prices continue to hinge on broad macroeconomic sentiment, which has turned upbeat in light of the improving manufacturing activity ofChinaand the recent approval forGreece’s next round of bailout.
China's demand this year is likely to be supportive as well, as consumption and imports are likely better than expected.
(Contributed by Olivia, olivia@tireworld.com.cn)
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