Shanghai rubber futures up 0.63pct higher on Thursday
2014-9-5 9:55:13Editor：AmandaFont Size：Big Medium Small
Rubber futures traded on the Shanghai Futures Exchange (SHFE) settled 0.63 percent higher on Thursday (Sep. 4, 2014) after making a weak start.
The most actively traded contract for January 2015 delivery ended at 14,470 yuan/metric yuan, up 0.63 percent from the previous settlement.Analysts tip short-term resistance at 14,000 yuan per tonne, noting that downside risk remains high on Vietnam government cancelling rubber export tax.
According to the Vietnam Rubber Association, the ministry has decided to cut the rubber export tax to zero from the current 1 percent (applied on products coded HS 4001, 4002 and 4005) starting from Oct.2, 2014.
(By Amanda, mol@tireworld.com.cn)
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