Rubber Falls for 7th Week on Concern Over Chinese Demand
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Rubber futures in Tokyo dropped for a seventh week, the longest losing streak since 2008, on concern that demand is waning in China, the biggest buyer of the commodity used to make tires.
The contract for delivery in July dropped 0.3 percent to end at 227.3 yen a kilogram ($2,217 a metric ton) on the Tokyo Commodity Exchange after earlier rising as much as 1.7 percent. Futures entered a bear market and fell 5.9 percent this week, extending losses for January to 17 percent this month.