SHFE rubber falls over 2% on liquidity jitters
Rubber futures traded on the Shanghai Futures Exchange (SHFE) slumped further on Monday (June 24, 2013), down over 2 percent tracking equity losses after the People’s Bank of China (PBoC) said the liquidity in the banking system is at a “reasonable” level, which dampened market expectation of the PBoC’s relaxing monetary policies in a bid to ease current liquidity fears.
Meanwhile, the HSBC flash manufacturing purchasing managers’ index (PMI) for June fell to 48.3, the lowest level since October of last year and down from 49.2 in May, said analysts.
The most actively traded contract for September delivery ended at 16,905 yuan/metric ton, down 445 yuan or 2.56 percent from the previous settlement.
(Edited by Olivia, olivia@tireworld.com.cn)
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