SHFE rubber futures rise ahead of holiday
2013-1-4 0:00:00Font Size：Big Medium Small
Rubber futures traded on the Shanghai Futures Exchange (SHFE) continued strong gains on Monday (December 31, 2012), supported by improved Chinese economic data for December.
The most actively traded contract for May 2013 delivery ended at 26,510 yuan/metric ton, up 505 yuan or 1.94 percent.
The HSBC said on Monday thatChinafinal manufacturing PMI rose to a 19-month high of51.5 inDecember, thanks to stronger new business in-take and expansion of production.
The statistics suggest thatChina’s economy remains on track for recovery as it enters 2013, said the HSBC report.
Rubber prices tend to stay firm on strong demand in the cash market in the near term, say market observers.
(Contributed by Olivia, olivia@tireworld.com.cn)
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