Japan rubber futures drop

TOKYO: Japanese rubber futures on Tuesday fell to a 2-1/2-month low after data showed that bank deposits and currency in circulation hit a record high in the country last month, underlining the struggle to recover from the pandemic.

Osaka Exchange’s rubber contract for September delivery finished down 1.9 yen, or 0.8%, at 224.6 yen per kg, the lowest closing price since late-January.

The rubber contract on the Shanghai futures exchange for September delivery fell 1% to finish at 13,530 yuan per tonne.