SHFE rubber slumps further on Fri.

Rubber futures traded on the Shanghai Futures Exchange (SHFE) fell more than 2 percent on Friday (June 21, 2013) as worries over the Fed’s bond-purchase scale-back and China’s slowing economy weighed down the commodity market.

The most actively traded contract for September delivery ended at 17,500 yuan/metric ton, down 385 yuan or 2.15 percent from the previous settlement.

Bearish run of the Shanghai rubber is expected given the fragile fundamentals, said Wang Ning, an analyst with China Creator.

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