Rubber Surges to Record on Supply Concern, Nears 500 Yen/Kg
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Rubber jumped by the most in three months, rising to a record as crude oil’s rally boosted the appeal of the commodity and rain in Asian growing regions curbed output, raising concern that supply tightness may worsen.
The July-delivery contract gained as much as 3.8 percent before settling at 489.9 yen on the Tokyo Commodity Exchange. In after-hours trading, the most-active contract surged to an all-time high of 499.9 yen a kilogram ($6,120 a metric ton). Transactions in this session will be settled tomorrow.