Alliance Rubber, importers square off at ITC antidumping hearing

WASHINGTON—An antidumping and countervailing duty case involving rubber band imports from Thailand, China and Sri Lanka was the occasion of impassioned and often personal testimony at a preliminary hearing before the U.S. International Trade Commission.

Representatives of a domestic rubber band manufacturer said they had to let their workers go and deny raises to remaining employees because of import competition.

However, distributors of imported rubber bands accused Alliance’s executives of being “greedy opportunists” who were trying to blame foreign manufacturers for their own bad business decisions.

Read the source article at Rubber and Plastics News

Global new car sales: the key trends and what they mean for the future

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In a world characterised by political uncertainties, the automotive industry provides one global constant – the onward march of China’s new car market. China overtook the US as the world’s biggest car market in 2010 and last year consolidated that position with 25.7 million cars sold – that’s eight million more than the US.

Read the source article at Autocar

GM offers $2.2 billion debt-for-equity swap in return for Seoul’s support: Sources

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General Motors has offered to convert debt of around $2.2 billion owed by its ailing South Korean operation into equity in exchange for financial support and tax benefits from Seoul, four sources with direct knowledge of the matter said.

The restructuring proposal comes after the Detroit automaker announced last week that it would shut its plant in the city of Gunsan, southwest of Seoul, by May and decide the future of the remaining three plants in the country within weeks.

Read the source article at cnbc.com

Report: Michelin-licensed rubber JV to start operation in Q2 ‘18

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Jakarta – A Michelin-licensed synthetic rubber manufacturing plant in Indonesian is 93.5% complete and set to start production in spring, according to a news report.

The facility is to be operated by PT Synthetic Rubber Indonesia (SRI), a joint venture company of Michelin and PT Chandra Asri Petrochemical Tbk (CAP).

Read the source article at European Rubber Journal

Kumho Petrochemical expects materials prices to rise

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Seoul – Kumho Petrochemical is expecting slight improvements in prices for butadiene and maybe also synthetic rubber over the coming months – in contrast to the roller-coaster trends of last year.

In its 2017 full year financial statement, the South Korean rubber and resin manufacturer said butadiene supply is forecast to be “stable” due to new operations in the region.

Read the source article at European Rubber Journal

China will contest any ‘unfair’ U.S. trade measures on steel: think-tank

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MANILA (Reuters) – China will oppose any “unfair and unreasonable” trade measures by countries such as the United States against its steel companies, a Chinese government think-tank said on Tuesday, arguing protectionism will “poison” the industry.

“Certainly we will protest against unfair and unreasonable measures launched by some countries such as the U.S.A. towards Chinese steel companies,” the China Metallurgical Industry Planning and Research Institute said in an email to Reuters.

“We will also study and discuss the counter-measures to try to seek a fair position for Chinese companies without any violation of W.T.O. (World Trade Organisation) agreement.”

Read the source article at Global Rubber Markets News

Cooper Tire Announces Offtake Agreement With Sailun Vietnam For Production Of TBR Tires

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Cooper Tire & Rubber Co. has entered into a multi-year manufacturing offtake agreement with Sailun Vietnam Co. Ltd. for the production of truck and bus radial (TBR) tires for global markets. The offtake agreement gives Cooper a third global source of TBR tire production to meet growing customer needs. Tires will be manufactured under the Roadmaster, Dean and Starfire brands.

Read the source article at Aftermarket News

Hankook eyes continued sales growth, profits rebound in 2018

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SEOUL, South Korea—Hankook’s management expects profits to rebound in 2018 as the company focuses on increasing its sales of higher value-added products and diversifying its OE portfolio.

Read the source article at Rubber and Plastics News

Yokohama to double car tire capacity at Indian plant

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HARYANA, India — Yokohama Rubber Co. Ltd. is planning to double annual capacity for passenger tires at its Yokohama India Pvt. Ltd. subsidiary over the coming 18 to 20 months with a $60 million investment.

Read the source article at Tire Business

Asian factories kick off 2018 on strong note, but inflation still missing

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HONG KONG (Reuters) – Asia’s factories got off to a strong start in 2018, with manufacturing activity in many countries gaining momentum and hitting multi-year highs as global demand for hi-tech products remained strong.

Business surveys in Europe and the United States later on Thursday were also expected to show solid factory activity, reinforcing expectations of another year of synchronized global growth that has propelled stock markets to record highs.

Read the source article at Global Rubber Markets News