SHFE rubber sharply down on Mon. on weak Q1 economic data
Rubber futures traded on the Shanghai Futures Exchange (SHFE) settled sharply lower on Monday (April 15, 2013) on lower-than-expected economic growth in the first quarter of 2013.
The most actively traded contract for September 2013 delivery ended at 20,355 yuan/metric ton, down 5.02%.
The National Bureau of Statistics (NBS) said on Monday China’s gross domestic product (GDP) rose by 7.7 percent in the first quarter of 2013, down 0.2 percentage points from the previous quarter and was also lower than the market expectation of 8 percent, a reflection of weak economic recovery.
The industrial value-added output slowed to 9.5 percent year on year in the first quarter on weak demand and high inventory pressure.
(Contributed by Olivia, olivia@tireworld.com.cn)
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