Rubber marks worst week since May
- Published: 4 Oct 2013 at 16.30
- Online news:
Rubber posted the biggest weekly loss since May as concern that the United States political impasse could lead to a recession boosted the Japanese currency against the dollar and cut the appeal of yen-denominated futures.
Thai rubber free-on-board fell on Friday for an eighth day, losing 0.3% to 78 baht (US$2.49) a kilogramme, according to the Rubber Research Institute of Thailand. Markets in China are closed through Oct 7 for National Day holidays.
The contract for March delivery on the Tokyo Commodity Exchange lost 1% to 254.3 yen a kilogramme ($2,620 a metric tonne), the lowest settlement since Aug 7. Futures slid 5.9% this week, the worst performance for a most-active contract since the five days through May 24.
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