Global rubber demand continues to decline.
2012-04-26
With the increasingly uncertain economic outlook in Europe and the slowdown of China's economic growth, global rubber demand is continuously declining.
China is the world's largest rubber consumer, and as the domestic GDP has dropped from 11% last year to 8%, it has severely impacted the rubber industry. Rubber is mainly used in tire manufacturing, and in the past three months leading up to March 31, car sales in China fell by 1.3%, further increasing pressure on the industry. However, the rising rubber demand in India may offset some of the pressure on the industry. The supply-demand gap for natural rubber in India has expanded to 1 million tons. At the National Multi Commodity Exchange (NMCE) in India, rubber for delivery in May was traded at 18,969 rupees per kilogram on Tuesday. At the Tokyo Commodity Exchange (TOCOM) on April 24, the commodity was traded at 293.4 yen per kilogram. Globally, the demand for rubber is continuously declining.
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