Rubber Declines as Toyota Extends Production Cuts After Quake
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Rubber declined on concern that demand may weaken after Toyota Motor Corp., the world’s largest automaker, extended production cuts in some regions because of a parts shortage triggered by Japan’s record quake last month.
The September-delivery contract dropped as much as 3.4 percent to 411.3 yen per kilogram ($5,001 a metric ton) and ended at 412.3 yen on the Tokyo Commodity Exchange. Rubber surged yesterday on concern that supply from Thailand, the largest producer, may be disrupted by floods and rain, and an industry group has forecast that output this year may decline.