Asian Rubber Futures End Lower on China Concerns
Bearish sentiment and concerns about growth in China continue to weigh on rubber prices across Asia.
Prices for rubber fell across the region as China data on Monday showed the country's economy grew 6.9% in the third quarter, continuing to weigh on sentiment.
After rising in the spring, rubber prices have settled back into their downswing, Commerzbank said in its daily research note.
It said rubber prices on the Singapore Exchange climbed slightly in the first half of October after some Chinese economic figures dampened concerns about demand trends there, but data showing weaker growth of car sales in China in the first nine months was now weighing on prices.
"Furthermore, the China Rubber Industry Association expects to see a lower total number of tires produced in China in 2015 than in 2014," Commerzbank said.
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