Rubber inventories in Qingdao, China’s main hub for the commodity, fell to 360,000 metric tons today, from 363,300 tons on May 15, the Qingdao International Rubber Exchange says in an e-mailed note.
* This is the second decline in six months, the exchange says
* Rubber inventory was at record 371,100 tons on Apr. 26, according to QinRex
* The decline in inventory is still smaller than expected and 360,000 tons remain a high watermark, with more shipments expected to arrive in June, says Cai Zhiwei, general manager at QinRex.
Source: Bloomberg
