Shanghai rubber edges down, sentiment driven

Rubber futures traded on the Shanghai Futures Exchange (SHFE) dived into negative zone after a higher opening on Tuesday (May 21, 2013) erasing earlier gains in the previous sessions.

The most actively traded contract for September delivery ended at 20,485 yuan/metric ton, down 45 yuan or 0.22%.

Traders say the SHFE rubber contracts were more sentiment-driven instead of taking cues from the fundamentals. Further movement of the futures products is expected to be in line with the local equity market.

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