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Rubber trades in bear market as China stockpiles swell
2013-4-2 0:00:00Font Size：Big Medium Small
rubber bear market China stockpile
Rubber fell into a bear market as expanding stockpiles in China signalled easing demand from the world's largest consumer of the commodity used in tyres.
Rubber for delivery in September on the Tokyo Commodity Exchange dropped 2.6% to 266.9 yen a kg, a 20% decline from this year's highest settlement for a most-active contract of 334 yen reached on February 6.
Thailand extended curbs on shipments on Monday to the end of May to boost prices. Inventories in warehouses in Qingdao reached an all-time high on March 15 as the nation's industrial output had the weakest start to a year since 2009.
The Economic Times
- Tireworld Insight: Domestic tire makers eye overseas expansion
- Tireworld Insight: Price disparity severe between China's rubber exports and imports
- Tireworld Insight: China tire exports dependent on US market performance
- Tireworld Insight: SHFE rubber expected to move in tight range in short-term
- Tireworld Insight: Rubber futures to test near-term resistance at 15,000 yuan/tonne
- Tireworld Insight: China’s tire industry on track of rapid growth
