BANGKOK (Commodity Online): With the growing economic uncertainties in Europe and slow growth of China’s economy, the global rubber demand has moved down.
China is the largest consumer of rubber in the world and with the fall in GDP to 8% from last year’s 11% affected the rubber industry badly.
The passenger-car sales of China in the last three months ended March 31, fell 1.3% putting further pressure over the industry.
Rubber is mainly used to manufacture tyre.
But, the rising rubber demand from India is likely to offset the some of the pressure over the industry.
India’s natural rubber supply-demand gap has widened by 1 million tons.
In India’s National Multi Commodity Exchange (NMCE), rubber for May delivery traded at Rs 18,969 per Kg on Tuesday.
And in Tokyo Commodity Exchange (TOCOM), the commodity traded at 293.4 yen per Kg on 24th April.
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