Rubber Plunges to a Four-Month Low on Greek Impasse

Rubber May 15, 2012 No Comments

RubberRubber plunged to a four-month low as the political impasse in Greece increased speculation that the nation may leave the euro, deepening an economic slump in the region and weakening demand for the commodity used in tires.

The October-delivery contract slumped as much as 5.1 percent to 265 yen a kilogram ($3,317 a metric ton), the lowest level for a most-active price since Jan. 6, before settling at 270.1 yen on the Tokyo Commodity Exchange. A slump this month has trimmed rubber’s 2012 advance to 2.5 percent.

via Rubber Plunges to a Four-Month Low on Greek Impasse – Bloomberg.

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Rod Sherkin

Rod is a former senior executive, responsible for Purchasing, for both Pillsbury and Ball Packaging back in the 80’s and 90’s. Since then, he has continued to work in the Purchasing field as both a consultant and founder of the website

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