Rubber Drops to 17-Month Low Amid Chinese Demand Concerns
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Rubber settled at the lowest level in 17 months amid speculation that large stockpiles in China will keep demand subdued from the world’s biggest user.
The contract for delivery in July lost 0.1 percent to 220.5 yen a kilogram ($2,176 a metric ton) on the Tokyo Commodity Exchange, the lowest settlement for a most-active contract since Sept. 5, 2012. The commodity entered a bear market last week and has lost 20 percent this year.