SHFE rubber settles lower on profit taking
2012-9-19 0:00:00Font Size：Big Medium Small
Rubber futures traded on the Shanghai Futures Exchange (SHFE) settled lower on Tuesday (September 18, 2012) on investors’ profit-taking sentiment.
The most actively traded contract for January 2013 delivery ended at 24,305 yuan/metric ton, down 30 yuan or 0.12%.
But the prices are anticipated to be firm as the overall sentiment was still boosted by the new stimulus plan by the U.S. Federal Reserve.
Upside momentum also comes from the Thai government’s further move in its price intervention program. The Thai government has reportedly approved an additional 30 billion baht ($971 million) to support the program.
(Contributed by Olivia, olivia@tireworld.com.cn)
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