Rubber Climbs to Record on Prospects for Increased China Demand
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Rubber climbed to a record on expectations that demand from China for the commodity used in tires will keep expanding even after the nation raised interest rates for the third time in four months to restrain inflation.
The July-delivery contract gained to as much as 510 yen a kilogram ($6,178 a metric ton) in after-hours trade on the Tokyo Commodity Exchange. Transactions in this session are settled tomorrow. Futures in Shanghai surged 4.3 percent to a record 43,500 yuan a metric ton as trade restarted after a holiday.