Synthetic rubber prices likely to remain volatile

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AKRON—Prices for synthetic rubber and petrochemical feedstocks have been “incredibly volatile” and are likely to remain so for a while, according to a speaker at the International Tire Exhibition & Conference in Akron Sept. 11-13.

“Energy- and economy-related fundamentals in the synthetic rubber market are encouraging, but risks abound,” said Bill Hyde, executive director-olefins and elastomers at IHS Markit.

Read the source article at Global Rubber Markets News

Tocom aims to double rubber trading with new contract

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Technically-specified rubber futures will start trading on October 9, according to President Takamichi Hamada. Trading volumes will probably exceed ribbed-smoked-sheet rubber, the type currently traded on Tocom, in the short term, Hamada, 68, said in an interview in Tokyo. The exchange is also aiming to surpass volumes on Singapore Exchange, he said.

Tocom is Japan’s largest commodity exchange and has offered RSS rubber contracts for almost 66 years.

 

Read the source article at Global Rubber Markets News

U.S. moves ahead with added tariffs on Chinese goods, including tires

WASHINGTON — President Trump is moving forward with new tariffs on more than 5,700 products imported from China — including virtually every type of tire — worth an estimated $200 billion.

The tariffs will start at 10 percent starting Sept. 24 and then rise to 25 percent on Jan. 1, 2019.

Most business sectors in the U.S., including the auto aftermarket, received the news with dismay, but some — such as U.S. retreaders — hailed the tariffs as a key protection against an onslaught of unfairly underpriced Chinese imports.

The Office of the U.S. Trade Representative (USTR) released the final list of goods, coming to 194 pages with a total of 5,745 tariff lines. The original list issued July 10 ran to 205 pages and contained 6.031 tariff lines.

The revised list contains hundreds of tire- and rubber-related items, including:

  • Virtually every type of pneumatic tire, including …

Read the source article at Tire Business

Ford Juggling NAFTA, China Challenges, Exec Says

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Joseph Hinrichs, Ford executive vice president-global operations, is concerned about the ramifications of missing deadlines for completing NAFTA negotiations, and says automakers are pressing Washington for a broad trade agreement covering all of North America.

Read the source article at WardsAuto

Moody’s says global automotive outlook ‘stable’ despite tariffs

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FRANKFURT AM MAIN, Germany–The outlook for the global automotive manufacturing industry remains stable over the next 12 to 18 months, according to Moody’s Investors Service.

Read the source article at Rubber and Plastics News

Tyre maker Michelin confirms 2018 guidance despite China slowdown

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Tyre makers such as Michelin and its rivals Continental and Goodyear have been hit by weaker demand in China, whose economy has been slowing, and the impact of adverse foreign exchange movements and commodity prices.

But Michelin said growth in Europe and north America meant it would stick to its overall 2018 financial targets.

Xavier Caroen, an analyst at French brokerage Bryan Garnier, said the statement would reassure investors that the French company had not been as badly affected as other tyre makers.

Read the source article at Stock Market Quotes and News

China won’t just play defense in trade war, Global Times warns

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BEIJING (Reuters) – China will not be content to only play defense in an escalating trade war with the United States, a widely read Chinese tabloid warned, as President Donald Trump was expected to announce new tariffs on $200 billion in Chinese goods as early as Monday.

Beijing may also decline to participate in proposed trade talks with Washington later this month if the Trump administration goes ahead with the additional tariffs, the Wall Street Journal reported on Sunday, citing Chinese officials.

Read the source article at Global Rubber Markets News

Japanese firms dealing with Russia feel little impact from U.S. sanctions: Sumitomo

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VLADIVOSTOK, Russia (Reuters) – Japanese firms dealing with Russia were experiencing little impact from U.S. sanctions on Moscow, but it was possible that they may also be sanctioned by the United States, the managing executive officer of Sumitomo Corporation said on Tuesday.

“At this moment we are not that affected,” Hideki Yamano told Reuters on the sidelines of the Eastern Economic Forum at the Russian Far East port of Vladivostok.

Asked if future projects by Japanese firms might be hurt because of the U.S. sanctions, Yamano said it was possible.

“We are closely monitoring the development (with the new sanctions,” he said.

Read the source article at Global Rubber Markets News

Commerce rules against China, Thailand in rubber band duty case

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WASHINGTON – The U.S. Department of Commerce has levied antidumping duties of 5.86 percent against most rubber band imports from Thailand.

Read the source article at Rubber and Plastics News

Michelin warns of job cuts at UK plant amid cheap tires’ influx

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Dundee, Scotland – French tire maker Michelin has warned of potential job cuts at its tire production plant in Dundee amid “extremely challenging trading conditions”.

In a 10-Sept statement, Michelin said it expected the plant’s output to fall “significantly below capacity” from 6.2 million units in 2017 to a maximum of 5.4 million per year over the next three years.

The company has cited an “influx of cheap tires from Asia and falling demand for smaller premium tires” for the decline in output.

Read the source article at European Rubber Journal