Shanghai rubber edges down, short-term resistance at 18,500 yuan/t

Rubber futures traded on the Shanghai Futures Exchange (SHFE) ended lower on Wednesday (July 3, 2013) in volatile trading.

The most actively traded contract for September delivery ended at 18,040 yuan/metric ton, down 175 yuan or 0.96 percent from the previous settlement.

Wang Ning, an analyst with China Creator, noted that theShanghairubber is expected to see a short-term bullish run in view of positive cues from broader markets, tipping short-term resistance at 18,500 yuan/tonne. (Edited by Olivia, olivia@tireworld.com.cn)