Capacity utilization of tire production in China rises again
As the nationwide environmental monitoring comes to an end, capacity utilization of tire production rises again in China.
As of Nov. 3, the capacity utilization of all-steel tires in China rose 0.34% to 67.6%; while that of semi-steel tires grew 0.71% to 70.30%.
So far, the spot price of state-owned latex in Shanghai is around 11,500 yuan/ton, generally rising back to the level in the same period last year.
The price is less than 1,500 yuan/ton below the lowest price last year, and is about 2,500 yuan/ton lower than the lowest point of the previous bullish market.
Currently, the proareas of natural rubber in Yunnan and Hainan provinces have reduced or stopped production, and the spot price of natural rubber has fallen to the cost line.
An analyst says that there is little room for natural rubber spot price to fall.
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