SHFE rubber sets lower, mild rebounds expected

Rubber futures traded on the Shanghai Futures Exchange (SHFE) settled a tad lower on Thursday (May 16, 2013) tracking the down momentum of the Tocom rubber contracts.

The most actively traded contract for September delivery ended at 19,975 yuan/metric ton, down 185 yuan or 0.92%.

Mild rebounds are expected but any gains will likely be short-lived as investors take profit swiftly, note an analyst with Jinpeng Futures.

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