With the cash crisis hit China, rubber prices have hit a new low since last year. As the largest rubber consumer, China suffered the credit crunch has spread to the car dealer.
According to a recently released statistics show that the Tokyo Commodity Exchange, December-delivery rubber prices have declined by 3 percent to 243.3 yen per kilogram, which hit a most-active contract since July 1 this year, since the price lowest level. As Tokyo local time Wednesday 10:37, rubber futures prices reached 236.8 yen per kg. This year, the cumulative decline in rubber prices by 22%.
China Automobile Dealers Association Deputy Secretary-General Luo Lei, on Tuesday announced that the Chinese cash crisis has led auto dealers psychological panic, they are very worried about obtaining financing.According to the plan, China Association of Automobile Manufacturers will be released on Wednesday wholesale car sales data.
Tokyo commodity futures trader Yutaka Shoji Co analyst Gu Jiong, said: “Investors are still worried about slowing demand in China.”
In June this year, Chinese inflation remained under pressure, factory time continuous decline in product prices hit a maximum length of time over the past decade, indicating that the economy weak demand trend will worsen in the second quarter.
Shanghai Futures Exchange data show that in January-delivery rubber prices remain at the level of 17,195 yuan per ton, unchanged. According to data from the Rubber Research Institute of Thailand, on Tuesday’s trading, Thai rubber FOB prices fell 0.9 percent to 81.70 baht per kilogram.
Translated by Google Translator from http://market.cria.org.cn/25/15523.html
