Rubber Surges to Seven-Month High as Yen Weakens on Abe Victory
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Rubber surged to a seven-month high on expectations for further stimulus after Japan’s Liberal Democratic Party reclaimed power and on optimism China will increase imports after cutting duties.
The contract for delivery in May advanced 2.8 percent to end at 284.2 yen a kilogram ($3,384 a metric ton), the highest closing level since May 10, on the Tokyo Commodity Exchange. Futures climbed 7.9 percent this year, rebounding from a 36 percent drop in 2011.