SHFE rubber settles higher on Tuesday
Rubber futures traded on the Shanghai Futures Exchange (SHFE) settled slightly higher on Tuesday (September 25, 2012), in line with the moderate gains on the Tokyo Commodity Exchange (TOCOM).
The most actively traded contract for January 2013 delivery ended at 23,655 yuan/metric ton, up 40 yuan or 0.17 %.
TheShanghairubber is expected to gain support from the collective export cut of major rubber producing countries –Thailand,IndonesiaandMalaysia, which will start on October 1.
But global economic uncertainties would continue to dominate the trend ofShanghairubber at least in the near term, said market observers, holding that further pullbacks may occur ahead of the forthcoming long vacation.
(Contributed by Olivia, olivia@tireworld.com.cn)
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