SHFE rubber ends lower on China PMI data
Rubber futures traded on the Shanghai Futures Exchange (SHFE) continued a session of sell-off and fell for more than 2% on Tuesday (April 23, 2013) as the newly released data from the HSBC suggestedChina’s manufacturing activity slowed in April.
The most actively traded contract for September 2013 delivery ended at 18,615 yuan/metric ton, down 415 yuan or 2.18%.
The preview forChina’s manufacturing purchasing managers’ index (PMI) dropped to a two-month low to stand at50.5 inApril, compared with final reading of 51.6 for March, said HSBC on Tuesday.
The fall in PMI reading, together with the bleak economic growth in the first three months of this year, failed to meet market expectation and rekindled concerns over the slowdown of Chinese economy.
(Edited by Olivia, olivia@tireworld.com.cn)
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