Shanghai rubber ends higher, further gains likely capped

Rubber futures traded on the Shanghai Futures Exchange (SHFE) extended a mild rising momentum on Tuesday (June 4, 2013). 

The most actively traded contract for September delivery ended at 19,155 yuan/metric ton, up 255 yuan or 1.35%.

But sentiment remained weak as jitters over weak economic slowdown and restart of initial public offering (IPO) continued to weigh, said industry observers, adding that room for further rebound were likely to be limited given the fragile fundamentals.

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