Tokyo Rubber Follows Shanghai Lower Amid China Property Concerns

Rubber in Tokyo and Shanghai sank as concern grew that property prices in China will retreat, weakening raw-material demand from the largest consumer.

Futures for July delivery on the Tokyo Commodity Exchange lost 4.3 percent to 217.2 yen a kilogram ($2,123 a metric ton). It was the biggest daily drop at close for a most-active contract since Feb. 6. Rubber for May delivery on the Shanghai Futures Exchange plunged by the daily price limit to 14,805 yuan ($2,429) a ton. That’s the lowest close for Shanghai futures since May 2009.