Rubber prices continue to fall over China property prices
Bloomberg reports, "Rubber in Tokyo and Shanghai sank as concern grew that property prices in China will retreat, weakening raw-material demand from the largest consumer.
Futures for July delivery on the Tokyo Commodity Exchange lost 4.3 percent to 217.2 yen a kilogram ($2,123 a metric ton). It was the biggest daily drop at close for a most-active contract since February 6. Rubber for May delivery on the Shanghai Futures Exchange plunged by the daily price limit to 14,805 yuan ($2,429) a ton. That’s the lowest close for Shanghai futures since May 2009. New-home price growth in China’s first-tier cities slowed in January after local governments implemented property measures to rein in escalating values and banks tightened lending. Home prices in the southern business hubs of Guangzhou and Shenzhen rose at the slowest pace since July. “Chinese investors rushed to sell riskier assets from stocks to copper and rubber as concerns grew property bubbles in China may burst,” said Gu Jiong, an analyst at Yutaka Shoji Co., a commodity broker in Tokyo. China’s stocks fell yesterday, sending the benchmark index to its biggest loss in seven weeks, amid speculation that reduced lending to the property industry will curb growth in the world’s second-largest economy. The Shanghai Securities News reported Industrial Bank Co. and other banks have curbed lending to the property sector and some related industries such as steel and cement."
- September 6, 2017AkzoNobel has expanded its presence in the Middle East after acquiring a 50 percent stake and management control of Sadolin Paints Oman SAOC, which employs around 150 people.The company has signed a j...view
- September 3, 2019China suppliers announces a new titanium dioxide price increasing $50-$80 in the September,2019.This is the second time China tio2 suppliers adjust price in one month.It's estimated that the trends wi...view
- September 6, 2017DuPont (DD.N) said on Thursday it will spin off its titanium dioxide unit into a separately traded public company within 18 months, yielding to intense pressure from Wall Street to divest the volatile...view
- September 6, 2017EuPC, the European group of plastics converters, has launched a new sector group: MedPharmPlast Europe. Focussing on the medical and pharmaceutical sector, the group has emerged from a need identifie...view
- December 3, 2020The price oftitanium dioxide in China has risen again, most of suppliers increase aroundRMB 700-1000/ton, USD100-150/ton, mainly because of the sharply increase in theprice of raw materials titanium o...view
- September 6, 2017With the raw material cost increases of 2016 set to continue into 2017, leading coatings manufacturer Hempel has announced price increases of certain products.The cost of many raw materials used in th...view