SHFE rubber rallies on Fri., hitting daily limit-up of 5%

Rubber futures traded on the Shanghai Futures Exchange (SHFE) saw a sharp rebound on Friday (May 3, 2013) and got capped at the daily limit-up of 5 percent in the whole afternoon session tracking the strong momentum of the local equities.

The most actively traded contract for September 2013 delivery ended at 19,720 yuan/metric ton, up 935 yuan or 4.98%.

The market was largely cheered up by the decision of the European central bank on cutting the interest rakes, which is expected to drive more foreign capital to flow intoChina’s stock market, analysts noted.

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