Shanghai rubber down 0.65pct Wed.

Rubber futures traded on the Shanghai Futures Exchange (SHFE) continued a downward trend on Wednesday (November 6, 2013).

The most actively traded contract for January 2014 delivery ended at 18,965 yuan/metric ton, down 125 yuan or 0.65% from the previous settlement.

Traders say sufficient supplies on the domestic market and weak consumption were the reasons behind the sluggish rubber price. In the short term the commodity would find it difficult to break through resistance level of 19,000 yuan/tonne.

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