Rubber Drops to Two-Week Low After Forecast Surplus May Widen
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Rubber declined to the lowest level in almost two weeks after a forecast that the global surplus will widen through 2015 as production increases.
Futures for delivery in April on the Tokyo Commodity Exchange lost 1 percent to 258.1 yen a kilogram ($2,542 a metric ton), the lowest settlement since Nov. 13. Today’s drop extended this year’s losses to 15 percent.