Shanghai rubber ends tad higher on Mon.
Rubber futures traded on the Shanghai Futures Exchange (SHFE) settled slightly higher on Monday (June 3, 2013) as investors remained prudent after HSBC’s weakened PMI reading for the manufacturing sector in May.
The most actively traded contract for September delivery ended at 18,955 yuan/metric ton, up 25 yuan or 0.13%.
The HSBC Holdings said on Monday that the final reading for China’s manufacturing PMI stood at 49.2 in May, down from 50.4 in April. However, the earlier official manufacturing PMI data released by China Federation of Logistics and Purchasing showed that the reading rose to 50.8 percent in May from 50.6 percent in April, marking the eighth consecutive month that the PMI figure stayed above the 50-percent boom-bust line.
(Edited by Olivia, olivia@tireworld.com.cn)
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