China starts stockpiling natural rubber: paper

China, the world’s largest rubber consumer, has started stockpiling natural rubber and will buy up to 200,000 tonnes for state reserves from the domestic market to support prices, state media reported on Friday, citing authorities.

The government will purchase 60,000 tonnes by year-end at a price of 24,600 yuan (US$3,900) per tonne, said the China Securities Journal, adding that weak demand from downstream industries and high stocks have pressured domestic rubber prices.

via Business feed http://www.scmp.com/business/commodities/article/1083806/china-starts-stockpiling-natural-rubber-paper