Rubber advanced for a third day as wet weather disrupted tapping in Thailand, limiting supply from the world’s largest producer and exporter.
Copper dropped for a fifth day on concern that a probe into inventories at Qingdao Port will reduce demand for the metal as collateral for credit in China, the world’s biggest user of the commodity.
Copper dropped on signs of slowing demand in China, the biggest consumer, amid a probe into possible fraud involving metals stockpiled at Qingdao Port.
Rubber futures in Tokyo fell the most in more than three months and reached the lowest settlement since 2009 after the yen rallied and concern mounted that demand would ease in China.
Rubber climbed for a second day, nearing an eight-month high reached Jan. 7, as speculation grew that China, the world’s biggest consumer, will step up purchases before holidays next month.
Rubber, which advanced 18 percent from a nine-month low reached in June, may extend the rally as moving averages formed a “golden cross,” according to technical analysis by Fujitomi Co.
Rubber tumbled on speculation that China, the world’s largest consumer, will raise interest rates to curb inflation, damping demand for commodities.
The Nasdaq Composite Index tumbled the most in two weeks amid concern earnings growth is too slow to justify U.S. equity valuations. Emerging-market stocks slumped and Treasuries climbed as tension increased over Russia.
"The dollar's strength and geopolitical risk put pressure on most metals, including zinc."
- Kazuhiko Saito on Aug 06, 2014