Shanghai rubber extends losses on weak sentiment

Rubber futures traded on the Shanghai Futures Exchange (SHFE) extended the falling momentum on Friday (May 24, 2013) after the sharp plunge to its daily limit-down of 5 percent in the previous session. 

The most actively traded contract for September delivery ended at 19,360 yuan/metric ton, down 410 yuan or 2.07%.

Weak Chinese manufacturing data continued to weigh, keeping SHFE rubber down, noted analysts, expecting the rubber contracts to remain at low key in coming sessions.

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