Shanghai rubber continues sharp plunge on Thu.

Rubber futures traded on the Shanghai Futures Exchange (SHFE) continued a falling momentum on Thursday (October 17, 2013) tracking loss in local equity market.

The most actively traded contract for January 2014 delivery ended at 20,405 yuan/metric ton, down 505 yuan or 2.42% from the previous settlement.

Analysts said falling crude oil prices were also weighing on rubber prices but the Shanghai rubber is likely to rebound in the next session on hopes that the US would approve a deal to end the government shutdown. (Edited by Olivia,olivia@tireworld.com.cn)