Rubber set for bull run in China as exporters curb supply

Tokyo

RUBBER in China rose to an eight-month high and was poised to enter a bull market as shrinking inventories in the biggest consumer signal tightening supplies, while top exporters curb shipments to bolster prices.

Rubber on the Shanghai Futures Exchange on Tuesday advanced as much as 2.7 per cent to 14,580 yuan (S$3,105) a tonne, the highest intraday level since Aug 29. The commodity will meet the threshold for a bull market if it closes higher than 14,292 yuan, which is 20 per cent above its low in December. Prices are still 67 per cent below their peak in 2011.