Shanghai rubber retreats, bearish run in the short term

Rubber futures traded on the Shanghai Futures Exchange (SHFE) moved in a steady downward path on Wednesday (June 26, 2013) tracking losses on the Tokyo Commodity Exchange (TOCOM).

The most actively traded contract for September delivery ended at 16,940 yuan/metric ton, down 175 yuan or 1.02 percent from the previous settlement.

Market sentiment remained prudent amid the bearish commodity market on the whole, said analysts, adding that the bearish run of Shanghai rubber were likely to continue for at least the short term.

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