Rubber futures traded on the Shanghai Futures Exchange (SHFE) sharply rebounded on Tuesday (January 29, 2013) after declining for four consecutive sessions.
The most actively traded contract for May 2013 delivery ended at 25,955 yuan/metric ton, up 370 yuan or 1.45%.
Prudent sentiment is expected to dominate the market ahead of theUSandChinaeconomic data due later this week, as well as the Chinese Lunar New Year holiday which officially falls on February 9.
Correction is likely to be seen in the next session as the current supply is healthy in major producerThailandand as trade activity winds down ahead of the Lunar New Year holiday.
(Contributed by Olivia, olivia@tireworld.com.cn)
