This entry was posted on Wednesday, May 26th, 2010 at 1:17 pm and is filed under Rubber News. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.
SINGAPORE (Dow Jones)–Natural rubber”s supply and demand fundamentals remain strong, and the market has “taken a recovery path” despite a drop in prices since the start of this month and the end of wintering, the Association of Natural Rubber Producing Countries said in a monthly report Tuesday.
“Demand for natural rubber remains strong despite woes and worries clouding expectations for global economic recovery,” ANRPC said.
Preliminary estimates up to last month indicated that demand remained strong in major consumers China, India and Malaysia, the association said. In top consumer China, imports of natural and compound rubber rose 17.3% and 42.7% respectively.
“It is striking to notice that these robust rates have been attained in spite of a section of tyre manufacturing industry staying away from the market expecting a lower price after the wintering season. This means that the real demand is yet to be felt in the market,” it said.
Source: Dow Jones