Shanghai rubber settles higher in volatile trading

Rubber futures traded on the Shanghai Futures Exchange (SHFE) settled slightly higher on Tuesday (December 10, 2013) after moving in and out of the negative territory.

The most actively traded contract for May 2014 delivery ended at 19,795 yuan/metric ton, up 35 yuan or 0.18% from the previous settlement.

Radar Futures noted that the Shanghai rubber still lacked impetus to bottom out in the near term on bearish demand outlook. The broker tipped short-term resistance of the commodity at 20,000 yuan per tonne.

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