Rubber Tops 500 Yen to Record as Recovery Boosts Demand Outlook

Rubber surged to more than 500 yen a kilogram for the first time as signs the global economy is improving boosted speculation demand will keep expanding for the commodity as weather disruptions constrain supplies. The cash price in Thailand also surged to a record.

The July-delivery contract climbed as much as 2.9 percent to a record 504 yen a kilogram ($6,178 a metric ton) on the Tokyo Commodity Exchange before settling at 502.9 yen. The most-active contract surged 7.2 percent this week, the largest advance in 13 weeks.