Economics
Rubber Climbs to Seven-Month High as U.S. Budget Concerns Ease
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Rubber advanced to a seven-month high after President Barack Obama made a new budget offer, raising optimism an agreement may be reached to avert automatic spending cuts and tax increases in the world’s biggest economy.
Rubber for delivery in May gained 0.5 percent to 285.7 yen a kilogram ($3,404 a metric ton) on the Tokyo Commodity Exchange, the highest level for the most-active contract at close since May 10. Futures have climbed 8.5 percent this year.