On June 7, the General Administration of Customs of China announced the latest data on China’s imports of rubber in May 2020. The data shows that China’s imports of natural and synthetic rubber (including latex) totaled 441,000 tons in May 2020, down 13% year-on-year. From January to May 2020, China imported 2.598 million tons of natural and synthetic rubber (including latex), a decrease of 1.4% from 2.635 million tons in the same period of 2019. Jom Jacob, a senior analyst at the Association of Natural Rubber Producers, predicted that the world will decline by 4.7%, and the main rubber producing countries will be much lower than the previous year.
A few days ago, the "2020 China Rubber Annual Conference" was successfully held online. Jom Jacob made an outlook on the global natural rubber industry in the context of the new crown epidemic. He believes that as the world's largest natural rubber consumer, although China is gradually returning to normal, China The tire industry relies heavily on exports, and the global epidemic is still going on. China cannot stay out of the way. It cannot be said that China has escaped the impact of the epidemic. In addition, the purchase of raw materials from abroad is also affected, meaning that competition and transaction costs are higher than before.
Regarding the consumption of natural rubber in 2020, he predicted that China will fall by 5.6%, India by 21.3%, the EU by about 6%, and the US by about 8%. The world is expected to decline by 12.2% in the first eight months of this year. The output of natural rubber in the main rubber-producing countries will be lower than last year, and the global output of natural rubber will fall by 4.7%. The problem of oversupply of global natural rubber production has existed for a long time, leading to the continued low price of natural rubber. In the later period, natural rubber output will decline or push up rubber prices.