Rubber pares weekly advance
- Published: 7 Dec 2012 at 17.55
- Online news: News
Rubber prices dipped on Friday, paring their weekly advance amid concerns about weaker demand as Europe's economy worsens, and amid the lowest new-job figures since June in the United States.
The contract for May delivery dropped as much as 0.8% to 261.6 yen a kilogramme (US $3,179 a tonne) on the Tokyo Commodity Exchange, and ended at 263.6 yen. That reduced this week's gain to 1.7%.
The euro area will not start to shake off its slump until the second half of 2013, European Central Bank President Mario Draghi said on Thursday after policymakers left the benchmark rate at a record low.
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