Rubber Plunges to One-week Low on Concerns Over Debt Crisis
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Rubber plunged to one-week low as measures by top three producers were viewed as inadequate to limit a price slump and a deepening European crisis may slow economic growth, cutting demand for the commodity used for tires.
April-delivery rubber fell as much as 3.7 percent to 263.5 yen a kilogram ($3,431 a metric ton), the lowest level since Nov. 14, and settled at 264.1 yen on the Tokyo Commodity Exchange. Futures gained 5.6 percent last week, the best performance since the five days ended Oct. 28.