Rubber futures traded on the Shanghai Futures Exchange (SHFE) fell into negative territory shortly after opening slightly higher on Thursday (December 13, 2012), in line with the movements in the local equity market which slumped amid heavy profit-taking pressure as dampened by US Federal Reserve’s new QE4 program.
The most actively traded contract for May 2013 delivery ended at 24,675 yuan/metric ton, down 100 yuan or 0.40 percent.
But the downside is expected to be limited as prices are supported by strong spot demand, say traders.
(Contributed by Olivia, olivia@tireworld.com.cn)
