Shanghai rubber ended lower on Fri., sentiment cautious

Rubber futures traded on the Shanghai Futures Exchange (SHFE) remained weak and settled lower on Friday (November 8, 2013), as the market sentiment remained low before the weekend.

The most actively traded contract for January 2014 delivery ended at 19,470 yuan/metric ton, down 55 yuan or 0.28% from the previous settlement.

Traders say sufficient supplies on the domestic market and weak consumption, especially tepid demand from China (the world’s largest rubber consumer) will likely to continue to weigh on rubber futures.

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