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China starts stockpiling natural rubber -paper

China starts stockpiling natural rubber -paperBEIJING, Nov 16 – China has started stockpiling natural rubber and will buy between 150,000 to 200,000 tonnes for state reserves from domestic markets as part of efforts to support prices and farmers amid weak domestic demand, state media reported on Friday, citing authorities.

The government will buy 60,000 tonnes by the end of the year at a price of 24,600 yuan ($3,900) per tonne, said the China Securities Journal, adding that weak demand from downstream industries and high stocks have pressured domestic rubber prices

Source: Reuters

 

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