Rubber on Edge of Bull Market With Yen Near 102 as China Imports

Rubber was on the cusp of a bull market a month after slumping into bear territory as the yen weakened to the lowest level since October 2008 against the dollar and China boosted imports for restocking.

Rubber for delivery in October advanced as much as 1.8 percent to 299 yen a kilogram (2,942 a metric ton) on the Tokyo Commodity Exchange, a 22 percent gain from this year’s lowest settlement for a most-active contract of 245.2 yen reached April 18. The commodity, which fell into a bear market on April 1, pared gains to settle at 294 yen, fractionally short of a 20 percent gain that would signal its entry into bull territory.