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

Price of rubber set to rise after neighbours’ pledge

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Following a pledge made last week by Thailand, Indonesia and Malaysia to withhold exports of 350,000 tonnes of natural rubber until March, experts say the price of the rubber produced in the kingdom will increase. Rubber being collected at a local plantation. KT/Ven Rathavong According to a public announcement issued on January 4, the pledge […]

Read the source article at Global Rubber Markets News

ITRC To Focus More On NR Sustainability – Dr. Chairil Anwar, CEO, International Rubber Consortium (IRCo)

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In an exclusive interview to Rubber Asia, Dr Chairil Anwar, the newly appointed CEO of the Bangkok-based International Rubber Consortium (IRCo), says that in the next decade, ITRC/IRCo will play a greater role in ensuring sustainability and remunerative prices for smallholders as well as providing fair and less volatile NR prices for the consumers. 

As the CEO of IRCo, my priorities are inline with and supportive of the objectives and goals of ITRC/IRCo.

In 2001, world’s three major producers of natural rubber (NR), namely Thailand, Indonesia and Malaysia, signed a Declaration to establish a tripartite cooperation in rubber under the framework of the International Tripartite Rubber Council (ITRC). The objectives of this cooperation are ensuring sustainable NR production and implementing relevant measures in achieving remunerative NR prices for the well-being of the rubber smallholders.

ITRC is committed in helping millions of rubber smallholders who …

Read the source article at Rubber Asia

Conti sees improved outlook for materials costs

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Hanover, Germany – Continental AG’s Rubber Group, which includes Tire Division and ContiTech, has reduced its estimates for the negative impact of rising raw materials prices in 2017.

In its recently-published third quarter results, Continental said it was lowering forecast for the average price of natural rubber (TSR 20) this year from $1.90/kg to $1.70/kg.

Read the source article at European Rubber Journal

Malaysia: Sabah To Introduce Rubberised Roads To Address Low Rubber Price

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KOTA KINABALU, Nov 22 (Bernama) — The Sabah government will introduce the use of rubber in paving roads and ‘green tyres’ as a long-term strategy to address the issue of low rubber prices, said Deputy Chief Minister Datuk Seri Yahya Hussin.

Yahya, who is also Sabah Agriculture and Food Industry Minister, said the move was also seen as potentially boosting rubber demand in the country as well as reducing exports to international markets, thereby shoring up flagging prices of the commodity in the future.

“The drop in rubber prices in the international market is due to the slowdown in world economic growth and the government is very concerned with the situation as it affects the income of smallholders and rubber tappers,” he said in reply to a question from Datuk Joniston Bangkuai (BN-Kiulu) at the state assembly sitting here today.

Read the source article at Global Rubber Markets News

Natural rubber market struggles

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The natural rubber market is anticipated to continue struggling due to plunging prices, according to the Association of Natural Rubber Producing Countries (ANRPC). A worker of Cu Mgar Rubber Company harvests latex. At its 10th annual meeting in HCM City on Monday, ARNPC said the global natural rubber market has been facing difficulties since 2012.

Read the source article at Global Rubber Markets News

Kobelco probe spreads to tire & rubber machinery

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Tokyo – Kobe Steel Ltd is investigating whether any of its tire & rubber machinery activities are affected by the ‘non-conformance’ scandal that has engulfed…

Read the source article at European Rubber Journal

Cambodia: Rubber exports rise 33 percent

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Cambodia’s rubber exports to the international market saw an increase of 33 percent in the first nine months of 2017, while the average price for the commodity went up 53 percent, compared with the same period last year. A local farmer tapping a rubber tree to collect the latex. 

Read the source article at Global Rubber Markets News

CSX CEO Harrison apologizes; automakers complain about rail delays

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WASHINGTON — CSX Corp.’s CEO apologized to customers for months of service disruptions at the No. 3 U.S. railroad but passionately defended his operating strategy, at a hearing on Wednesday called by the top U.S. rail regulator. Seated before two regulators at the U.S. Surface Transportation Board (STB) in Washington, CSX CEO Hunter Harrison defended his vision for streamlining efficiency, which he calls “precision scheduled railroading.”

Read the source article at Front Page

Japanese steelmaker Kobe becomes latest to admit fabricating data

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Investors looked set bail out of Kobe Steel Ltd. on Tuesday, after Japan’s third-biggest steelmaker revealed it had fabricated data to show its products met customer specifications in the latest scandal to rock corporate Japan. Kobe Steel said on Sunday that about 4 percent of the aluminium and copper products that it shipped from September 2016 to August 2017 were falsely labelled as meeting the specifications requested by customers.

Read the source article at cnbc.com