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Analysis on import of natural rubber to Shandong in Jan.

According to Qingdao Customs, natural rubber of 126,000 tons were imported from Shandong ports in Jan., down 21.8% year on year; the import value dropped 39.2% to 1.25 billion yuan; and the average import price was down 22.2% to 9,864.7 yuan/ton.

Following are the analysis on Shandong ports' import of natural rubber in Jan.

Shandong ports' monthly natural rubber import kept stable for three consecutive months from last Nov.

The import volume grew 4.1% month on month in Jan., while the average import price slid 1.1%.

The ports imported natural rubber of 60,000 tons in terms of processing trade in Jan., up 27.8% and accounting for 47.7% of total natural rubber imports.

About 48,000 tons were imported in terms of special customs supervision, down 53.7% month on month and accounting for 38.2%.

About 18,000 tons were imported in terms of general trade, rising 75.1% and accounting for 14.1%.

Shandong's private enterprises imported natural rubber of 87,000 tons in Jan., down 8.7% month on month and accounting for 68.6% of the total; the SOEs imported 20,000 tons, down 50.1%; and foreign-invested enterprises imported 20,000 tons, down 25.7%.

Shandong ports' imported natural rubber of 125,00 tons from ASEAN countries, down 21.9% month on month and accounting for 98.8%.

Included were 93,000 tons from Thailand, down 14.9%; 17,000 tons from Malaysia, down 23.1%; and 13,000 tons from Indonesia, down 48.2%.

The reasons for fewer natural rubber imports was attributable to the following elements:

First, insufficient demand is the primary reason for Shandong ports' natural rubber imports keeping low. Winter is the off season for tire production and the demand for natural rubber is sluggish.

Second, international natural rubber supply started to increase from 2017. Thailand is the major origin for natural rubber import. The country's natural rubber output was affected by flood in early 2017 and was recovered in the second half of the year.

The weak price of natural rubber imported through Shandong ports also started from Jun. 2017.