Tokyo Gum Price Rises Or Rises 25% In The Future
Japanese futures brokerage firm Tokai said that the price of Tokyo natural rubber (22815, -70.00, -0.31%) futures is expected to rise 25% to 30 year highs, as China's demand increases, overshadowing the possible decline in European demand.
The broker said that this year, Tokyo's rubber futures price is expected to surpass the 2008 high of 356.9 yen / kg, and hit a 30 year high.
The broker said the increase in the number of private cars in China will boost the use of rubber in tyres. China's demand will have more and more influence on the market and the global economy. It will guide the future market. According to the International Rubber Research Organization (IRSG), demand for gum in Europe accounted for 15% of the world's 10 million 200 thousand tons in 2008. According to the May report of ANRPC, China's demand for gum will increase by 10% to 3 million 350 thousand tons this year.
The European sovereign debt crisis forced Europe to maintain a low interest rate policy and delayed the withdrawal policy, which again triggered investors' demand for commodities as a tool against inflation.
Due to fears that Europe's sovereign debt crisis will hinder economic recovery and affect demand for commodities, the price of gum has risen by 3.6% this year. Yesterday's closing, Tokyo gum November contract fell slightly 0.1 yen to 284.7 yen.
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