Global rubber demand outlook 'pessimistic' - Rubber Industry - Rubber machinery, rubber mixing mill exporters, rubber extruder machines exporter, rubber mixing mill manufacturer, rubber extruder manufacturer, rubber mixing mill supplier, rubber extruder machines supplier, rubber mixing machines, rubber extruder machinery, rubber mixing machinery, rubber extruder machine, rubber plant and machinery, rubber mixing mills, suppliers of rubber machinery, rubber mixing mills from china.

Global rubber demand outlook 'pessimistic'

Post time：2009-03-19 10:25:55 Click：85

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GLOBAL consumption of natural rubber may drop by at least 5.5 per cent this year as car sales in Europe and the US plunge amid the global recession.

“We expect the demand outlook to be quite pessimistic,” Hidde Smit, secretary-general of the International Rubber Study Group, said in an interview. Consumption may fall from around 9.13 million metric tons in 2008, he said in Guangzhou today.

Rubber prices have slumped 50 per cent in the past year as the global recession slashed tyre demand. Europe’s car market shrank 7.8 per cent in 2008, while US sales contracted 18 per cent to a 16-year low. Thailand, Indonesia and Malaysia, the top three producers, agreed in December to cut exports by 700,000 tons this year, or about 8 per cent of global demand.

“If we are optimistic and use a base scenario, demand for natural rubber will be down by 5-5.5 per cent this year,” Smit said. “If you use other scenarios, the decline will be bigger.” The outlook “may get better in 2010,” he said.

Sales in China’s automobile market, which surpassed the US as the world’s biggest in January, grew at the slowest pace in a decade last year, reducing tyre consumption. Still, the country’s rubber demand may grow 4.7 per cent to 2.65 million tons from 2.53 million tons last year, according to Fan Rende, chairman of the China Rubber Industry Association.

“China is a lot better than the US and Japan, but China won’t be able to entirely offset those two countries as overall demand will still decrease,” Smit said.

“At current low prices, suppliers will cut production,” he added. “Our estimate is production this year will be down 5 to 6 per cent from around 9 million tons last year.”

Thailand, the biggest rubber producer, Indonesia and Malaysia plan to cut supply by 10 per cent this year to bolster prices, said Somchai Charnnarongkul, a Thai agriculture official.

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