Rubber drops on advancing yen, weaker economic data from China | Bangkok Post: Most recent

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Rubber drops on advancing yen

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Rubber declined as Japan's currency strengthened and data signaled a slowdown in business activity in China and the United States, the world's biggest users. 

The contract for October delivery lost 1.1% to settle at 259.6 yen a kilogramme (US$2,664 a metric tonne) on the Tokyo Commodity Exchange. Futures fell for a third month in April and have dropped 14% this year.

The yen climbed to 97.05 per dollar, nearing a two-week high, after data showed US business activity shrank for the first time in more than three years. China's Purchasing Managers’ Index was at 50.6, the National Bureau of Statistics and China Federation of Logistics and Purchasing said today in Beijing. That compared with the 50.7 median forecast of 31 analysts in a Bloomberg News survey and a March reading of 50.9.

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