Shanghai rubber edges up tracking equity rally
Rubber futures traded on the Shanghai Futures Exchange (SHFE) demonstrated a sharp upside momentum in the last few minutes of trading on Wednesday (September 11, 2013) tracking rally in the equity market.
The most actively traded contract for January 2014 delivery ended at 20,735 yuan/metric ton, up140 yuan or 0.68% from the previous settlement.
Media reports earlier this morning said that Chinese banks granted 711.3 billion new yuan-denominated loans in August, slightly higher than that in July, which beats earlier market expectations.
Share prices on Shanghai and Shenzhen bourses climbed further to a three-month high during intra-day trading on Wednesday boosted by heavyweight stocks.
(Edited by Olivia,olivia@tireworld.com.cn)
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