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This week, the spot price of natural rubber US dollars in Qingdao Free Trade Zone has consolidated in a narrow range, rising slightly, and the recent improvement in factory procurement demand and the decline in inventory in the free trade zone
.
External prices consolidated after a slight increase, and seasonal factors will continue to support prices in the short term, while Thailand's 200,000-ton order and Indonesia's 500,000-ton acquisition plan also provided some support
to the market.
According to Beijing, March 21, China's imports of natural rubber (including latex) in February 2016 were 139,376 tons, down 37% from the previous month and 21%
from the same period last year, according to the latest data released by the General Administration of Customs of China.
Imports from January to February were 361,938 tons, down 8% year-on-year; Imports of synthetic rubber (including latex) in February were 169,855 tons, down 27% month-on-month and up 85%
year-on-year.
Imports from January to February were 403,584 tons, up 79%
year-on-year.
According to Thailand on March 21, after consultation between the Management Committee of the Thai Rubber Agency and the Farmers' Development Institute, the Farmers' Development Institute will assist in the purchase of tobacco flake glue and standard rubber to meet the large purchase order
of up to 200,000 tons of China Sinochem Group (SINOCHEM).
The large purchase order is expected to be available
from next month.
According to Thailand's news on March 22, Thai State Council spokesman Major General Shan Sheng said on the 19th that relevant government departments have made every effort to help rubber farmers and manufacturers promote rubber and products, and the current sales performance has exceeded the reservation target, through the two rubber and product enterprise business docking activities held before and after, created a transaction volume of 55 billion baht, successfully increased the use
of domestic rubber.
According to Tokyo, March 22, the latest data released by the Japan Rubber Trade Association shows that as of March 10, 2016, rubber stocks in Japanese ports fell 3.
6% to 13,276 tons
.
Jakarta, Indonesia, March 24 -- Indonesian government agencies and state-owned enterprises will buy 500,000 tons of domestically produced rubber to help support prices, while the government has also launched a replanting program
.
However, the government did not provide details on when it would be purchased, but Gapkindo said demand for rubber should heat up as infrastructure develops, such as asphalt mixtures
made from rubber when building roads.
