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SHFE rubber rebounds on Fri., may test resistance at 25,000 yuan/t
2013-3-11 0:00:00Font Size：Big Medium Small
Shanghai Futures Exchange
Rubber futures traded on the Shanghai Futures Exchange (SHFE) rebounded on Friday (March 8, 2013) with the low production season providing support.
The most actively traded contract for September 2013 delivery ended at 24,150 yuan/metric ton, up 120 yuan or 0.50%.
TheShanghairubber is expected to test key resistance at 25,000 yuan/ton in the next few sessions on supply tightness.
"Right now, the global supply and demand outlook is pretty balanced, so tight raw material supply in any region would support prices," says a Bangkok-based trader.
(Contributed by Olivia, olivia@tireworld.com.cn)
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