Rubber Plunges to Five-Month Low as China Demand Seen Faltering
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Rubber declined for a fourth day to close at the lowest level in five months on concerns that a slowing economy and rising inventories in China, the biggest buyer, will reduce demand for the commodity used in tires.
The contract for delivery in September lost 2 percent to end at 252.4 yen a kilogram ($2,567 a metric ton) on the Tokyo Commodity Exchange, the lowest settlement price since Nov. 16. Futures lost 8.8 percent in the four days, extending this year’s decline to 17 percent.