Shanghai rubber edges down, sentiment prudent

Rubber futures traded on the Shanghai Futures Exchange (SHFE) dived into the negative territory in the afternoon session on Tuesday (July 30, 2013) amid prudent sentiment in the market.

The most actively traded contract for January 2014 delivery ended at 17,520 yuan/metric ton, down 170 yuan or 0.96% from the previous settlement.

Investors were cautious about the trading before the US released gross domestic product data for the second quarter this week. The sentiment remained prudent due to weak fundamentals of the commodity, said analysts.

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