Demand for rubber expected to continue to soar
(Xinhua)Updated: 2007-03-22 15:49 China's demand for rubber will continue to grow at a double-digit pace over the next few years, according to the China Rubber Industry Association which forecasts 12 percent growth this year.
| |||
China's natural rubber production is estimated at approximately 600,000 tons for last year, and the synthetic rubber output, at 1.84 million tons.
Fan said the natural rubber production would grow by only 1.7 percent this year.
To meet growing demand from manufacturers of tires, auto parts and footwear, Fan predicted, China would this year import 1.75 million tons of natural rubber, up 8.7 percent over last year, and1.5 million tons of synthetic rubber, up 15 percent.
Customs data show that last year, the country bought from abroad 1.6 million tons of natural rubber, up 14.6 percent year-on-year, and 1.3 million tons of synthetic rubber, up 19.2 percent.
According statistics from the association, China consumed 3.5 million tons of
rubber in 2005 and 3.8 million tons in 2006.
(For more biz stories, please visit Industry Updates)