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Sept 8: China Rubber Futures Bounce On Support; Car Demand

[Dow Jones] Natural rubber benchmark contract on SHFE gains 1.4% as CNY18,000/ton provides strong psychological support against bearish pressures, says Lin Hui, analyst with Orient Securities Futures. High volume of recent imports continues to weigh on market, but domestic tire demand from auto industry remains source of optimism. Market expected to stabilize just above CNY18,000/ton support. Benchmark January contract up CNY245 at CNY18,315/ton. (CWY)

Source: Dow Jones

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This entry was posted on Wednesday, September 9th, 2009 at 8:05 am and is filed under Rubber News. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

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