Rubber Posts Biggest Weekly Drop Since April on China
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Rubber in Tokyo declined, capping the largest weekly loss since April, amid speculation that China’s economy is slowing and will weaken demand for the commodity used in tires.
The contract for delivery in June on the Tokyo Commodity Exchange fell as much as 1.1 percent to 254.1 yen a kilogram ($2,420 a metric ton), matching a two-month low reached Jan. 7. Futures settled at 256.3 yen, bringing the week’s drop to 6.6 percent, the most since the five days through April 19.