Shanghai rubber rises taking cues from equities

Rubber futures traded on the Shanghai Futures Exchange (SHFE) ended up nearly 1 percent on Monday (August 5, 2013) tracking gains in the local equity market.

The most actively traded contract for January 2014 delivery ended at 18,280 yuan/metric ton, up 170 yuan or 0.94% from the previous settlement.

The PMI forChina’s non-manufacturing sector rebounded in July after falling for three consecutive months, according to official data released on Saturday, which stood at 54.1 percent in July, up from 53.9 percent for June. The improving non-manufacturing figure is in line withChina’s manufacturing PMI, which also rose in July to 50.3 percent from 50.1 percent in June. (Edited by Olivia, olivia@tireworld.com.cn)