Shanghai rubber extends gains, resistance ahead

Rubber futures traded on the Shanghai Futures Exchange (SHFE) added gains and ended by more than 1 percent higher on Tuesday (July 2, 2013).

The most actively traded contract for September delivery ended at 18,170 yuan/metric ton, up 235 yuan or 1.31 percent from the previous settlement.

Pull backs are expected in the next session,, said analysts, pointing to the fragile fundamentals along with China’s slowing economy. (Edited by Olivia, olivia@tireworld.com.cn)