Rubber Slumps to 3-Month Low on Higher Yen, Rising Stockpiles
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Rubber tumbled to a three-month low as Japan’s currency climbed, reducing the appeal of yen-denominated contracts, and on concern that reserves in China are increasing.
The contract for delivery in August lost 4.1 percent to 280.6 yen a kilogram ($2,934 a metric ton) on the Tokyo Commodity Exchange, the lowest settlement for the most-active contract since Dec. 14. Futures lost 7.2 percent this year.