Rubber futures traded on the Shanghai Futures Exchange (SHFE) settled higher on Thursday (July 17, 2014) on better-than-expected macro-economic data
The most actively traded contract for September 2014 delivery ended at 14,235 yuan/metric yuan, up 215 or 1.53% from the previous settlement.
The National Bureau of Statistics (NBS) on Wednesday reported a GDP growth of 7.5 percent for the second quarter, higher than the 7.4-percent growth in the first quarter, suggesting the country's economy is improving.
The fundamentals for the natural rubber futures market, however, are very likely to deteriorate in the rest of this year, said analyst Chen Ruibi with Shanghai CIFCO Futures. (Edited by Olivia, olivia@tireworld.com.cn)
