China imports 14.7% more synthetic rubber
(Xinhua)Updated: 2007-06-18 09:55
China imported 484,000 tons of synthetic rubber in the first four months of this year, a growth of 14.7 percent over the same period of last year, according to customs sources.
The imports were valued at US$930 million, up 26.3 percent. Prices of the arrivals averaged US$1,924 per ton, up 10.1 percent.
The growth in both imports and prices is owed to strong demand amid low-technique-based production at home, the customs sources said.
Along with the fast growth in its auto industry, major foreign tyre makers have launched manufacturing bases one by one in China. Meanwhile, domestic footwear, rubber tube and other rubber products suppliers are expanding production, demanding more synthetic rubber as raw materials.
Between January and April, foreign-funded enterprises accounted for 254,000 tons, or 52.6 percent, of China's total synthetic rubber imports.
Most of the arrivals came from the Republic of Korea and Russia, the sources said.
Imports from ROK stood at 109,000 tons, up 17.1 percent, and those from Russia, 90,000 tons, up 69.5 percent.
(For more biz stories, please visit Industry Updates)