SHFE rubber continues losing streak on Fri.

Rubber futures traded on the Shanghai Futures Exchange (SHFE) settled lower for the sixth consecutive session on Friday (December 20, 2013).

The most actively traded contract for May 2014 delivery ended at 18,850 yuan/metric ton, down 295 yuan or 1.54% from the previous settlement.

Rubber supply remains sufficient in light of the increasing inventories at Qingdao Bonded Zone, while demand in downstream industries, the automobile sector in particular, has become firmer to underpin the rubber prices, said analysts with Industrial Futures.

These factors would combine to slowdown the falling momentum of Shanghai rubber in the medium term. (Edited by Olivia,olivia@tireworld.com.cn)