Rubber futures traded on the Shanghai Futures Exchange (SHFE) continued to move in a downward path on Tuesday (February 19, 2013), tracking the movement on the Tokyo Commodity Exchange (TTOVCOM) as the yen strengthens against the greenback and traders take profit after gains in the previous session.
The most actively traded contract for May 2013 delivery ended at 26,090 yuan/metric ton, down 340 yuan or 1.29%.
Traders say theShanghairubber is under pressure after a bull run since November of last year. Corrections are likely to continue to be the main theme of the market in the short term.
(Contributed by Olivia, olivia@tireworld.com.cn)
