SHFE rubber extends gains, Fed meeting in focus
2012-9-13 0:00:00Font Size：Big Medium Small
Rubber futures traded on the Shanghai Futures Exchange (SHFE) settled higher for the sixth straight session on Wednesday (September 12, 2012), as investors remained optimistic about the upcoming U.S. Federal Reserve meeting.
The most actively traded contract for January 2013 delivery ended at 23,400 yuan/metric ton, up 385 yuan or 1.67%.
Traders were hoping that the Fed would launch a new round of monetary easing to boost the economy.
But even if the Fed fails to do so, downside of the Shanghai rubber will be limited in light of the brisk spot demand and the forthcoming high consumption season of the commodity, market observers point out.
(Contributed by Olivia, olivia@tireworld.com.cn)
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