Shanghai rubber rebounds, short-term bullish run expected

Rubber futures traded on the Shanghai Futures Exchange (SHFE) rebounded on Friday (October 11, 2013) tracking rising momentum in the local equity market.

The most actively traded contract for January 2014 delivery ended at 20,655 yuan/metric ton, up 345 yuan or 1.70% from the previous settlement.

Analysts with China Creator said the Shanghai rubber was likely to see a bullish run in the near term, due to falling tire inventories in the domestic market and stockpiling programs in major producing countries. (Edited by Olivia,olivia@tireworld.com.cn)