China's NR Imports in May Declined 36%

China’s imports of natural rubber in May was down by 36% to 90,000 metric tonnes from the same month in the previous year, according to the General Administration of Customs.

The data released also showed May’s imports of natural rubber declined by the same rate from April, when 140,000 metric tonnes were imported.

Whilst no reason was given, trade sources attributed the decline to the release of 60,000 metric tones of government stockpile and the drawdown on stocks estimated at 120,000 metric tonnes from warehouses in Qingdao over the period to tide the pressure from high prices and shortage from domestic supply due to the drought in the south west.

Nevertheless, the total import of natural rubber from January to May, totaling 720,000 tons, showed a rise of 3.5% from the same period the previous year.

(Irco.biz)