Economics
Rubber Bear Market Boosts Bridgestone as Inventory Swells
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Rubber’s bear market is poised to deepen as the global supply glut stretches into a fourth year and stockpiles in China swell, cutting costs for tiremakers. Prices today dropped by the most in two weeks in Tokyo.
Futures on the Tokyo Commodity Exchange, the international benchmark, will drop as much as 15 percent to 200 yen a kilogram ($1,956 a metric ton) in 2014 from yesterday’s settlement, according to the median of 15 estimates compiled by Bloomberg News. That’s 63 percent below the record high set in 2011.