SHFE rubber inches up on Tue. on profit taking

Rubber futures traded on the Shanghai Futures Exchange (SHFE) rebounded on Tuesday (June 25, 2013) after a sharp decline on the previous session, mainly stimulated by profit taking.

The most actively traded contract for September delivery ended at 17,375 yuan/metric ton, up 200 yuan or 1.16 percent from the previous settlement.

Analysts said the present fundamentals remained weak amidChina’s waning manufacturing activities. The HSBC flash manufacturing purchasing managers’ index (PMI) for June fell to 48.3, the lowest level since October of last year and down from49.2 inMay.

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