Rubber Erases Year’s Advance on Fed Minutes, Thai Supplies
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Rubber futures slumped to an eight-week low, wiping out this year’s gains, as Federal Reserve minutes showed policy makers advocating more flexibility in economic stimulus and on concern Thailand will increase supplies.
The contract for July delivery lost 2.6 percent to 297.5 yen a kilogram ($3,184 a metric ton) on the Tokyo Commodity Exchange, the lowest settlement since Dec. 26. Futures have retreated 1.7 percent this year.