Rubber Advances 15% This Year as Yen Weakens on Abe Stimulus
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Rubber extended a rally to the highest level in more than seven months, gaining 15 percent in 2012, as Japan’s currency fell to the lowest in more than two years on prospects for additional stimulus to end deflation.
Rubber for June delivery climbed 0.6 percent to 302.5 yen a kilogram ($3,499 a metric ton) on the Tokyo Commodity Exchange, the highest settlement for the most-active contract since May 8. Futures reversed last year’s 36 percent drop on prospects of improving demand and after top producers limited supplies. The Tokyo market is closed from Dec. 31 to Jan. 3 for holidays.