Rubber Declines from Record on Yen’s Rally, Chinese Rate Concern
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Rubber declined as investors sold the commodity to lock-in gains after it climbed to a record for a sixth day and as a stronger Japanese currency weakened the appeal of yen-denominated contracts.
June-delivery rubber lost as much as 2.6 percent to 406.6 yen per kilogram ($4,933 a metric ton), the lowest level since Dec. 20, before settling at 407.8 yen on the Tokyo Commodity Exchange. The most-active contract climbed to a record 419.3 yen yesterday, extending this year’s advance to 51 percent.