Rubber Plunges Most in Seven Months as Stockpiles Swell in China
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Rubber in Tokyo slid the most in seven months on the first trading day of the year after data showed stockpiles in China expanded to a nine-year high, raising concern demand from the largest consumer is weakening.
The contract for delivery in June on the Tokyo Commodity Exchange lost 4.3 percent, the largest drop at close for a most-active contract since May 23, to settle at 262.6 yen a kilogram ($2,517 a metric ton). Futures dropped 9.3 percent last year, the first annual decline since 2011.