SHFE rubber ends higher, downside remains
Rubber futures traded on the Shanghai Futures Exchange (SHFE) settled higher on Friday (September 21, 2012) in choppy trading.
The most actively traded contract for January 2013 delivery ended at 24,140 yuan/metric ton, up 110 yuan or 0.46 %.
The latest statistics fromChina’s General Administration of Customs show the country imported 210,542 metric tons of natural rubber in August, up 5.2% year on year and 21% month on month, indicating demand of the world’s largest rubber consumer is still on its way of slow recovery.
But the downside ofShanghairubber is believed to be high in light ofChina’s weak manufacturing data and fall in crude oil prices recently, market observers noted.
(Contributed by Olivia, olivia@tireworld.com.cn)
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