Rubber Drops to Five-Month Low as Chinese Stockpiles Expand
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Rubber futures in Tokyo reached a five-month low as stockpiles in China continued expanding, deepening concern that demand from the largest user is slowing.
The contract for delivery in June on the Tokyo Commodity Exchange lost 1.4 percent to 252.8 yen a kilogram ($2,444 a metric ton), the lowest settlement since Aug. 7. Futures extended last week’s 6.6 percent drop, the most since the five days through April 19. Markets in Tokyo were closed yesterday for a holiday.