Rubber stocks in China’s bonded warehouse in Qingdao were estimated at as much as 200,000 tonnes, an Aisling Commodity Fund executive said on Thursday (May 12).
Inventories in the Qingdao bonded area are not disclosed to the public, but make up the bulk of China’s rubber stocks.
"I understand, our sources tell us it’s somewhere around 150,000-200,000 tonnes," Michael Coleman, managing director of Aisling Commodity Fund, Singapore, said on the sidelines of a conference in the city-state.
"Stocks are low in the Shanghai Futures Exchange and high in the Qingdao bonded zone. And we think that consumer stocks are quite okay."
Rubber inventories in warehouses monitored by the Shanghai Futures Exchange fell 8.4 percent last week to 11,851 tonnes.
(Reuters, May 13, 2011)
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