Natural rubber prices in south China's Hainan Province have risen persistently and will extend the upward trend, according to the provincial price-monitoring center.
Hainan is China's largest natural rubber production base, accounting for almost 40 percent of the country's total output.
Data from the center show that transaction prices of rubber in the middle of this month rose 6.4 percent over that in the first 10-day period and jumped 14.38 percent year on year.
Meanwhile, the electronic rubber trading market in Hainan has been very buoyant recently, with transaction prices of latex soaring by almost 20 percent from less than 12,000 yuan/tonne at the beginning of November to more than 14,200 yuan/tonne on November 26.
As rubber tapping suspends at the end of the year, the output will drop, which is expected to drive up prices, the center said. Furthermore, distributors generally hold optimistic outlook for rubber industry in the future.
(Source: http://irco.biz)
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