Rubber futures traded on the Shanghai Futures Exchange (SHFE) ended in positive territory for the fourth consecutive trading session on Friday (February 1, 2013) backed by healthy PMI data.
The most actively traded contract for May 2013 delivery ended at 26,465 yuan/metric ton, up 230 yuan or 0.88%.
HSBC Holdings said on Friday that HSBC China’s Purchasing Managers’ Index (PMI) for manufacturing sector stood at52.3 inJanuary, higher than the final reading of50.1 inDecember of 2012 and hitting a two-year high, which helped lift the market sentiment.
Trading is likely to be tight next week as investors adopt cautious strategies ahead of the Lunar New Year holiday which officially falls on February 9.
(Contributed by Olivia, olivia@tireworld.com.cn)
