Rubber Drops to 1-Week Low as Toyota to Suspend European Output
This article is for subscribers only.
Rubber declined for a second day to the lowest level in more than a week after Toyota Motor Corp. said its car production in Europe will be halted later this month, boosting speculation demand for tires will weaken.
The September-delivery contract lost as much as 4.6 percent to 438.2 yen per kilogram ($5,210 a metric ton), the lowest level since April 4. It settled at 450.4 yen on the Tokyo Commodity Exchange.