The government should look seriously into the grievances of rubber farmers who have been complaining about low prices over the last five years. True, the price of rubber, like most other commodities, such as palm oil, cacao and coal, is mainly influenced by global supply and demand, especially for Indonesia, which, as the world’s second…
Kuala Lumpur – Natural rubber prices recovered from a dip in late July, thanks to favourable market fundamentals and supply deficit, the Association of Natural Rubber Producing Countries (ANRPC) has reported.
In its latest release on trends and statistics in August, the association said global NR production reached 8.038 million tonnes within the first eight months of the year. Consumption was estimated at 8.544 million tonnes.
MILAN (Reuters) – Italian tyremaker Pirelli, bought by state-owned China National Chemical (ChemChina) two years ago, will sell up to 40 percent of its equity capital in an initial public offering as it plans to return to the Milan stock exchange in October.
The relisting of the world’s fifth-largest tyremaker will test demand for a streamlined firm that focuses on high-end consumer tyres, after the company’s less profitable truck and industrial tyre business was folded into a unit of ChemChina[CNNCC.UL].
A confidential study prepared by analysts at Banca IMI, one of the global coordinators for the IPO, valued the group’s equity at between 7.6 billion and 8.7 billion euros ($9 billion – 10.4 billion).
KOBE, Japan — Sumitomo Rubber Industries Ltd. suffered double-digit drops in operating and net income for the quarter and half-year ended June 30, but is still raising its earnings forecast for the full fiscal year.
Aug 4 (Reuters) – Cooper Tire & Rubber Co * Cooper Tire & Rubber Company reports second quarter 2017 results * Q2 earnings per share $0.85 * Q2 sales $721 million versus i/b/e/s view $767.8 million * Q2 earnings per share view $0.74 — Thomson Reuters I/B/E/S * Qtrly consolidated unit volume decreased 0.5 percent compared with a year ago * Cooper Tire & Rubber Co – unit volume in u.s. Is expected to be in line with industry for second half of 2017 * Cooper Tire & Rubber Co – for full year 2017, unit volume growth is expected in international segment and …
During the first half of the year, Michelin increased both sales and net income on the back of higher volumes. Net sales were up 7.5 per cent to 11.1 billion euros in the six months to 30 June, and while operating income declined 0.8 per cent year-on-year to 1.4 billion euros (with the margin down 1.1 per cent to 12.6 per cent), the tyre maker described this result as “stable and in line with the Group’s roadmap.” Net income rose 12.2 per cent to 863 million euros.
MONTREAL — Canada’s used vehicle prices have dropped for the first time in about seven years, June industry data showed, as demand for second-hand autos weakened due to a stronger Canadian dollar and a supply glut in its biggest export market, the United States.
The Canadian Black Book’s index, which tracks the value of an average four-year-old vehicle in Canada, fell three per cent in June, compared with a 10-per-cent gain during the same month in 2016, Brian Murphy, vice president, research and editorial, said.
If prices continue to soften, the trend could weigh on Canada’s record-breaking auto sales as the price gap between new and used models widens and consumers have less equity in old models to trade in for new vehicles, industry experts say.
Leatherhead, UK – The global market for off-the-road tires will enjoy a five-year compound annual growth rate of 4% by volume and 5.2% by value, according to a new report from Smithers Rapra.
“The Future of Off-the-Road Tires to 2022″ is Smithers’ critical analysis of the key factors shaping the global OTR tire market, the company said in a 24 July press release.
According to the report, more than 3.7 million tonnes of OTR tires will be sold worldwide in 2017, with a value of $24.8 billion…
It’s classic subprime: hasty loans, rapid defaults, and, at times, outright fraud. Only this isn’t the U.S. housing market circa 2007. It’s the U.S. auto industry circa 2017. A decade after the mortgage debacle, the financial industry has embraced another type of subprime debt: auto loans. And, like last time, the risks are spreading as they’re bundled into securities for investors worldwide. No one is suggesting that subprime car loans will unleash the next crisis.
London – A second-quarter reversal in European replacement tire markets could set a trend for the months ahead, believes Fazilet Cinaralp, secretary general of the European Tyre and Rubber Manufacturers’ Association.
Cinaralp was commenting on ETRMA’s latest quarterly figures, which showed significant quarter-on-quarter declines in member companies’ sales – reversing a positive trend observed earlier this year.
The data, published 14 July, showed a sharp slowdown compared to the first three months of the year. The trend affected all segments, particularly consumer tires which came in 6%…