Rubber futures decline
TOKYO - Rubber dropped to a five-month low in a volatile trade on concern that accelerating inflation may spur China to take additional steps to curb growth.
Futures in Tokyo declined for a second day to the lowest level since Dec 16. The price has lost 10 percent this month after reaching a 21-month high of 338.5 yen per kilogram ($3,650) on April 16.
Rubber for October delivery, the most-active contract, tumbled as much as 3.3 percent to 255.8 yen per kilogram on the Tokyo Commodity Exchange, before settling at 262.3 yen.
September-delivery rubber on the Shanghai Futures Exchange gained 1.3 percent to 22,285 yuan ($3,264) a ton.
Bloomberg News
(China Daily 05/13/2010 page17)
