Shanghai rubber futures rally, trading turnover surges

Rubber futures traded on the Shanghai Futures Exchange (SHFE) settled sharply higher on Tuesday (July 29, 2014) with turnover gradually recovering.

The most actively traded contract for January 2015 delivery ended at 16,035 yuan/metric yuan, up 2.85 percent from the previous settlement.

However, analysts believe the fundamentals of the Shanghai rubber have not changed, noting that oversupply and tepid demand will continue to weigh on rubber prices in the mid and long term.

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