Rubber Drops as Debt Crisis, Weak U.S. Data Raise Demand Concern
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Rubber declined, headed for the first quarterly loss since June, on concern that demand will weaken as Europe’s debt crisis deepens and after data showed pending home sales fell in the U.S.
The contract for delivery in September fell 2.8 percent, the most since March 18, to end at 274.9 yen a kilogram ($2,920 a metric ton) on the Tokyo Commodity Exchange. Most-active prices have lost 9.1 percent so far this quarter after two periods of gains.