Shanghai rubber picks up for over 1pct on Wed.

Rubber futures traded on the Shanghai Futures Exchange (SHFE) settled higher by gaining more than 1 percent on Wednesday (October 30, 2013).

The most actively traded contract for January 2014 delivery ended at 19,585 yuan/metric ton, up 195 yuan or 1.01% from the previous settlement.

Part of the upside momentum came from the local equity market and overnight crude oil gains, on speculations that the US Fed will maintain the pace of stimulus during the two-day meeting starting from Tuesday, analysts say.

(Edited by Olivia, olivia@tireworld.com.cn)