Shanghai rubber ends higher on solid data

Rubber futures traded on the Shanghai Futures Exchange (SHFE) settled higher on Monday (September 9, 2013) as China’s trade, CPI and PPI data for August indicate that the domestic economic growth was stabilizing and recovering gradually.

The most actively traded contract for January 2014 delivery ended at 20,870 yuan/metric ton, up 125 yuan or 0.60% from the previous settlement.

China’s consumer price index (CPI), a major gauge of inflation, grew 2.6 percent year-on-year in August, slightly slower than the 2.7 percent year on year rise in July and also in line with earlier market forecast of a 2.6 percent growth rate, adding to evidence that the national economy was strengthening.

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