Shanghai rubber up tad tracking equity gains

Rubber futures traded on the Shanghai Futures Exchange (SHFE) ended slightly higher on Wednesday (October 9, 2013) tracking gains in the regional equity market.

The most actively traded contract for January 2014 delivery ended at 20,545 yuan/metric ton, up 55 yuan or 0.27% from the previous settlement.

The upside momentum partly came from the expected improving economic data including trade data, CPI and third quarter GDP that will be released in the coming week.

But analysts say the ongoing US budget problems will likely further add to the uncertainties of the commodity market and underpin a weak outlook for the Shanghai rubber for at least the short term.

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