China's consumption of synthetic rubber to rise 8.1% in 2012

24 May 2012 09:48  [Source: ICIS news]

SINGAPORE (ICIS)--China’s consumption of synthetic rubber (SR) is expected to grow by 8.1% year on year to 4m tonnes in 2012 amid higher demand from the tyre industry, an industry official said on Thursday.

The country’s overall consumption of rubber products is expected to grow by 6.0% year on year to 7.4m tonnes, with consumption of natural rubber to increase by 6.3% to 3.4m tonnes, said Mary Xu, deputy secretary-general of China Rubber Industry Association.

Xu was speaking at the World Rubber Summit in Singapore, which is held on 22-24 May.

China’s exports of passenger-car tyres grew by 5.7% year on year to 338,000 tonnes in the first quarter of this year, while its total exports of truck tyres rose by 15.1% to 504,000 tonnes, Xu said.

However, the growth rate of China’s tyre exports in the January-March this year was “depressed” compared with the same period a year earlier, tracking the slowdown in the country’s economy, she added.

China’s economy grew at an annual pace of 8.1% in the first quarter, compared with an 8.9% growth rate in the previous quarter.

By: Nurluqman Suratman

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