SHFE rubber dives on Mon. on weak China data

Rubber futures traded on the Shanghai Futures Exchange (SHFE) dived into the negative territory in the last few minutes of trading on Monday (March 11, 2013) as comparatively weak economic data from China weighed on sentiment.

The most actively traded contract for September 2013 delivery ended at 23,995 yuan/metric ton, down 15 yuan or 0.06%.

The latest data from the National Bureau of Statistics showed thatChina’s industrial value-added output rose 9.9% year on year in the first two months, 1.5 percentage points slower from the same period of last year. Moreover, the country’s annual consumer inflation rebounded to a 10-month high of 3.2 percent in February due to rising food prices during the Spring Festival holidays, which aroused worries over the central bank’s further move to drain liquidity.

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