Shanghai rubber retreats tracking equity loss

Rubber futures traded on the Shanghai Futures Exchange (SHFE) moved in a downward path on Thursday (June 20, 2013) tracking the sharp losses of the regional equity market.

The most actively traded contract for September delivery ended at 17,765 yuan/metric ton, down 350 yuan or 1.93 percent from the previous settlement.

World stock markets fell sharply on Thursday after the chair of the Federal Reserve gave the clearest signal yet that America's huge stimulus package will be slowed this year.

Fears that China's economy was running out of steam were also blamed as the FTSE 100 hit its lowest level since January in London, amid heavy losses in European markets and in Asia overnight.

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