Rubber drops from two-week high as US debt deadline looms | Bangkok Post: business

Business > News

Rubber drops from two-week high

- +

Rubber retreated from the highest level in more than two weeks as the deadlined loomed for United States lawmakers to reach a deal on raising the debt limit and avoiding a default. 

The contract for March delivery dropped as much as 1.2% to 267.5 yen a kilogramme (US$2,715 a metric tonne) on the Tokyo Commodity Exchange and was at 268.6 yen on Wednesday at 11.09am in Tokyo. The most-active contract ended at 270.8 yen on Tuesday, the highest settlement since Sept 26. Prices have fallen 11% this year.

Crude oil traded near a three-month low while Fitch Ratings put the US on watch for a possible credit downgrade on Tuesday, citing lawmakers' inability to forge a deal while reiterating that it expects the debt ceiling to be raised.

This article is older than 60 days, which we reserve for our premium members only.You can subscribe to our premium member subscription, here.

1 people commented about the above

Readers are urged not to submit comments that may cause legal dispute including slanderous, vulgar or violent language, incorrectly spelt names, discuss moderation action, quotes with no source or anything deemed critical of the monarchy. More information in our terms of use.

Please use our forum for more candid, lengthy, conversational and open discussion between one another.

  • Latest
  • Oldest
  • Most replied to
  • Most liked
  • Most disliked

    Click here to view more comments