Rubber futures traded on the Shanghai Futures Exchange (SHFE) rallied on Wednesday (July 17, 2013), hitting the daily limit-up of 5% intraday.
The most actively traded contract for January 2014 delivery ended at 18,260 yuan/metric ton, up 850 yuan or 4.88% from the previous settlement.
Analysts said theShanghairubber was likely to have bottomed out from the recent bearish run, tipping the short-term resistance at 18,000 yuan per ton.
(Edited by Olivia, olivia@tireworld.com.cn)
