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Thursday, January 20, 2022

Tire firms seek to combat rubber-price fluctuations

Tire firms seek to combat rubber-price fluctuationsChinese tire companies plan to launch a fund to avoid the risk of frequent rubber-pricefluctuations.

The China Rubber Industry Association, affected severely by such fluctuations, has been tryingto find a solution with tire companies.

Now, the Hangzhou Zhongce Rubber Co Ltd has proposed launching a stabilization fund for allenterprises, the Shanghai Securities News reported on Tuesday.

The association says such a fund could handle rubber-market initiatives and maintain themarket’s healthy development.

In recent years, rubber has become a financial product for global trading, which has caused agradual price change.

However, as it is the sole raw material for tires, the majority of tire companies have had troublewith retail price controls.

Source: chinadaily.com.cn

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