Shanghai rubber retreats after two-day gains

Rubber futures traded on the Shanghai Futures Exchange (SHFE) dipped and ended nearly 1 percent lower on Friday (November 15, 2013).

The most actively traded contract for May 2014 delivery ended at 19,150 yuan/metric ton, down 180 yuan or 0.93% from the previous settlement.

Investors were still worried about the prospect for rubber consumption and expectations for higher output were also weighing on rubber prices.

Experts at the Ninth China Natural Rubber Fundamental Research Seminar noted that China’s natural rubber output will gradually increase and is expected to hit 1.2 million tonnes in 2020.

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