GMG

Rubber / GMG: Rubber surged to the highest level in almost 8 months on the first trading day of 2013, extending last year’s 15% rally, as a weaker yen and increased US auto sales boosted the appeal of the commodity. Rubber for delivery in June jumped as much as 3.3% to 312.4 yen / kg ($3,567 / mt), the highest level since May 7. The Japanese currency dropped to the weakest level since Jul10 against the dollar, raising the appeal of yen-based contracts and helping exporters such as Toyota Motor Corp expand overseas sales. US deliveries of cars and light trucks climbed 13% to 14.5m, the best annual total in half a decade, Autodata Corp. said, stoking speculation demand will increase for the commodity used to make tires.