SHFE rubber ends sharply higher on Fed stimulus
2012-9-17 0:00:00Font Size：Big Medium Small
Rubber futures traded on the Shanghai Futures Exchange (SHFE) settled sharply higher on Friday (September 14, 2012) following the new stimulus plan introduced by the U.S. Federal Reserve.
The most actively traded contract for January 2013 delivery ended at 24,370 yuan/metric ton, up 1,090 yuan or 4.68%.
TheU.S.central bank concluded on Thursday its closely-watched policy meeting by launching a new bond-buying program, which is known as QE3 as the market has expected.
Market observers say correction is expected next week following the strong rally in the past few trading days, but the downside would be limited.
(Contributed by Olivia, olivia@tireworld.com.cn)
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