Shanghai rubber futures rebounds 1.53pct on Thu.
2014-7-18 9:22:58Editor：AmandaFont Size：Big Medium Small
Rubber futures traded on the Shanghai Futures Exchange (SHFE) settled higher on Thursday (July 17, 2014) on better-than-expected macro-economic data
The most actively traded contract for September 2014 delivery ended at 14,235 yuan/metric yuan, up 215 or 1.53% from the previous settlement.
The National Bureau of Statistics (NBS) on Wednesday reported a GDP growth of 7.5 percent for the second quarter, higher than the 7.4-percent growth in the first quarter, suggesting the country's economy is improving.
The fundamentals for the natural rubber futures market, however, are very likely to deteriorate in the rest of this year, said analyst Chen Ruibi with Shanghai CIFCO Futures. (Edited by Olivia, olivia@tireworld.com.cn)
Tireworld
Related Article
- China auto inventory at 995,800 units at end-June, CAAM
- Shanghai rubber futures close higher tracking outside cue
- Online services face obstacles in gaining widespread acceptance
- Purchase taxes for new energy vehicles to be temporarily nullified, hopes to help promote sales
- Summary: Luxury manufacturers' Chinese sales performance for January to May
- Tireworld Insight: Domestic tire makers eye overseas expansion
- Tireworld Insight: Price disparity severe between China's rubber exports and imports
- Tireworld Insight: China tire exports dependent on US market performance
- Tireworld Insight: SHFE rubber expected to move in tight range in short-term
- Tireworld Insight: Rubber futures to test near-term resistance at 15,000 yuan/tonne
- Tireworld Insight: China’s tire industry on track of rapid growth
