Shanghai rubber under downside pressure after weak PMI data

Rubber futures traded on the Shanghai Futures Exchange (SHFE) is seeing increasing downside pressure after the China Federation of Logistics and Purchasing (CFLP) released the country’s Purchasing Managers’ Index (PMI) for June on Monday.

The manufacturing PMI fell to 50.1 percent in June from 50.8 percent in May.

The most actively traded contract for September delivery ended at 17,050 yuan/metric ton in the previous trading session, down 115 yuan or 0.67 percent.

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