中文    /   Eng

Singapore rubber more than half of the world trade volume

Date:Mar 25,2009

  Singapore's Senior Minister of Trade and Industry Iswaran yesterday that when the World Rubber Summit (World Rubber Summit) held in the local speech said that China is now one of the main centers of the rubber trade, rubber trade deals with the global rubber trade more than 50%.
  He pointed out that the German company Lanxess (Lanxess) will invest 400 million euros (800 million dollars) in the local construction of Asia's largest butyl rubber (butyl rubber) plant is further evidence of our ability as a rubber trading center.
  LANXESS expects the local butyl rubber production plant completed in 2012, the plant is expected to produce 100,000 tons of butyl rubber annually.
  Iswaran said Singapore is also a global pricing center of the rubber trade in real terms, 80% of the global rubber trade prices are based on the Singapore Commodity Exchange (SICOM) in rubber prices. He pointed out that Singapore is not a natural rubber producing countries or major consumer markets, is a neutral rubber trading center, finance, and procurement and risk management platform for the rubber trade.
  Yi Hua pointed out that the demand slowdown affecting the global automotive companies, and because of the tire manufacturing sector accounted for 70% of global demand for natural rubber, which will also affect the price of rubber. Based on the uncertain economic outlook, Iswaran appeal in the rubber value chain enterprises to accelerate the adaptation of new rubber supply and demand situation.

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