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Rubber Slumps to Lowest Since 2009 as China Growth Slows

Rubber futures in Tokyo and Shanghai declined to the lowest level since 2009 on concern that slowing economic growth in China will reduce demand from the top user amid a global surplus.

The contract for delivery in September on the Tokyo Commodity Exchange lost 4 percent to settle at 206.4 yen a kilogram ($2,016 a metric ton), the cheapest since October 2009. Rubber for delivery in the same month on the Shanghai Futures Exchange dropped 4.1 percent at 14,200 yuan ($2,282) a ton, the lowest close since April 2009.