SHFE rubber ends lower following weak China PMI data
Rubber futures traded on the Shanghai Futures Exchange (SHFE) settled lower on Thursday (September 20, 2012) amid low sentiment after the release of HSBC preview of China PMI data for September.
The most actively traded contract for January 2013 delivery ended at 23,880 yuan/metric ton, down 485 yuan or 1.99%.
The HSBC flash PMI gained slightly to47.8 inSeptember from a nine-month low of47.6 inAugust. But the figure stayed still below the gauge of 50, which indicates that the manufacturing sector of the world’s largest rubber consumer is still contracting.
Market observers also noted that after the strong gains in the past several sessions, pullbacks are within expectation in the near term.
(Contributed by Olivia, olivia@tireworld.com.cn)
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