Tire Production Cuts in India Caused by High Rubber Prices
Natural rubber prices have been the bane of tiremakers in India of late, and on Nov. 12 the New Delhi-based Financial Express reported that major tire manufacturers in India are considering production cuts to minimize losses arising from prices that have risen above Rs 200 (£2.77) a kilogram. “We have no option but to scale
Rubber Prices Headed Nowhere But Up
Following many financial reports from tire companies suggesting that sales are up but profits have not necessarily followed suit, it seems that the high price of rubber – cited as a major profit-eating factor – is set to continue its upward momentum in the near future. The Financial Times says heavy rains in southeast Asian
Indian Tiremakers Demand Cut in Rubber Futures Trading
India’s Automotive Tyre Manufacturers’ Association reportedly sought suspension of futures trading in natural rubber on Oct. 20. According to India’s Business Standard newspaper, Rajiv Budhraja, director general of the ATMA, wrote to the Forward Markets Commission and the Rubber Board after rubber futures went up by 5 rupees for the November contract in one day,
Rubber Recycling Symposium Set for Sept.
Working in conjunction with the U.S. Rubber Manufacturers Association, the Rubber Association of Canada is hosting its biennial Rubber Recycling Symposium, Sept. 30-Oct. 1 in Toronto. “Many delegates are entrepreneurs, who come to learn about leading edge technologies and market trends in rubber recycling,” said the RAC, “while others come from a variety of sectors
Plantations See Higher Return Away from Rubber
Malaysia News Service – For decades, oil palm has been this country’s golden crop. In contrast, several factors – including less attractive rates of return – have caused rubber to fall out of favour with plantation companies. However, three recent developments suggest Malaysian policymakers should stop treating rubber as a stepchild. First, The Nikkei says
Rubber Prices, Chinese Vehicle Sales to Rise in 2010
A report on Bloomberg.com suggests that rubber prices will climb by up to 19% by the end of 2010, as demand for vehicles in China witnesses continued growth. The report quotes Roka Komiya at Japan’s leading rubber trader, Marubeni Corp., who suggests that rubber will change hands at between $1.80 and $2.30/kg in the first
Natural Rubber Price Up 25%
The price of RSS3 grade natural rubber has shot up 25% to US$2.0/kg in the last month (and US$ 1.8/kg for TSR 20 grade).
Chinese Tyre Makers, Associations Send Anti-Tariff Delegation to U.S.
A nine-member party of representatives from Chinese tyre associations and manufacturers have headed to the U.S. to participate in a week-long campaign against the proposed tariffs on consumer tyres imported from China.
Rubber to Decline 35% as Tire Sales Slump
(Bloomberg) The 42%, four-month rebound in rubber prices may be coming to an end as global tire demand plunges the most in three decades.
China Tiremakers Boost Output, Lifting Rubber Demand
(Bloomberg) China’s tiremakers are running at full capacity after demand picked up on government stimulus measures to revive the auto industry, boosting purchases of rubber by the world’s biggest consumer of the raw material.