Rubber futures traded on the Shanghai Futures Exchange (SHFE) continued to rise on Wednesday (March 20, 2013) as strong performance of the stock market helped cheer up investors’ sentiment.
The most actively traded contract for September 2013 delivery ended at 22,810 yuan/metric ton, up 355 yuan or 1.58%.
Asian rubber futures were mostly higher on bargain hunting after recent sharp declines and on news that the top three producers may extend a collective export curb to shore up rubber prices.
However, the upside is likely to be limited as concerns over developments inEuropecontinued to weigh on sentiment.
(Contributed by Olivia, olivia@tireworld.com.cn)
