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Dec 30: SHFE rubber futures mostly lower; crude to set tone

Shanghai – Natural rubber futures on SHFE settle mostly lower on profit-taking, despite fund buying in last half-hour trading prompted by gains in metal contracts, says Orient Securities Futures analyst Lin Hui. Adds crude prices will continue to have larger say in natural rubber’s price moves. “Crude oil surged to a 5-week high overnight, so if its bullish trend continues, it will certainly help lift natural rubber prices near- and medium term.” New benchmark 2010 May contract settles down CNY140, or 0.6%, at CNY23,890/ton.

Source: Moneycontrol.com

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This entry was posted on Thursday, December 31st, 2009 at 4:08 pm 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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