Rubber Drops Most Since May on Chinese Stockpiles as Yen Rallies
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Rubber in Tokyo fell the most since May as rising inventories in China signaled slowing demand from the world’s largest consumer while a stronger Japanese currency reduced the appeal of yen-denominated futures.
The contract for delivery in June on the Tokyo Commodity Exchange lost 5.1 percent to 229.3 yen a kilogram ($2,234 a metric ton), the lowest settlement for a most-active contract since June 26. It was the biggest daily loss since May 23. Prices have fallen for six weeks, the longest losing streak since October 2008, to the cusp of a bear market.