The hottest rubber market structure will change

2022-08-09
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Rubber market structure will change

affected by the change of domestic rubber resources and the change of national rubber import tariff policy, China's rubber market structure will change in 2009

on the one hand, the new tariff policy will make the trend of natural rubber import diversification more obvious. In 2009, the national new tariff implementation plan adjusted the import tariff of natural rubber to balata gum, gutta percha gum, silver chrysanthemum gum, sugar gum gum and similar natural gum, and the tax rate agreed with Brunei, Indonesia, Malaysia, Philippines, Singapore, Thailand, Cambodia, Laos and Myanmar was reduced from 12% to 5%, and Vietnam was reduced from 12% to 8%; The tariffs of natural rubber latex, cigarette rubber sheet, technical classification natural rubber (tsnr) and other primary natural rubber should be replaced and adjusted in time, and the selective tax rate should continue to be implemented. The import tariff of composite rubber is adjusted to: the agreed tax rate with Brunei, Indonesia, Malaysia, the Philippines, Singapore, Thailand, Cambodia, Laos and Myanmar is reduced from 5% to 0, and the agreed tax rate with Vietnam is maintained at 5%. The import tariff of synthetic rubber is adjusted as follows: styrene butadiene rubber will continue to implement the normal MFN tax rate of 7.5% for ASEAN countries; For other synthetic rubber, the tax rate for the old ASEAN member countries was reduced to zero, and that for the new member countries Myanmar and Vietnam was reduced to 5%

after the implementation of the above tax rate adjustment, China's natural rubber import structure will be greatly affected. Since China has always implemented a high tariff policy for the import of natural rubber, the implementation of zero tariff for composite rubber provides a way for domestic enterprises to reduce production costs. Therefore, domestic enterprises will choose more imported composite adhesive, and the import share of the original cigarette film and technical classification adhesive will be reduced. But at the same time, this will also put some pressure on domestic natural rubber production and processing enterprises. According to customs data, China imported 560000 tons of composite rubber in 2007, accounting for 22.6% of natural rubber imports from 3.7% in 2002. From January to October 2008, the apparent consumption of natural rubber in China was 1.907 million tons, with a year-on-year increase of 3.9%; The apparent consumption of composite rubber was 490000 tons, with a year-on-year increase of 15.4%, which greatly exceeded the consumption growth of natural rubber

it should be noted that the tariff adjustment has little short-term impact on the domestic synthetic rubber market structure. Because ASEAN countries are basically importers of synthetic rubber, the only value is to replace the ideal products imported. Attention should be paid to the fact that the 100000 ton/year butyl rubber plant built by LANXESS in Singapore will have a great impact on China's market after it is put into operation. But at the same time, the tariff adjustment with ASEAN countries will also be conducive to China's future exports of synthetic rubber to ASEAN

on the other hand, the increase of domestic resources will reduce the import of some rubber varieties. Due to the continuous growth of domestic production capacity, the import volume of styrene butadiene rubber, butadiene rubber and SBS polymers with quite high elongation will be reduced in 2009; Butyl rubber, nitrile rubber and ethylene propylene rubber will still be imported in large quantities due to insufficient domestic production, but the import growth rate will slow down. In 2009, a number of synthetic rubber projects will be put into operation in China, with a new capacity of about 390000 tons. Including Qilu 100000 tons of emulsion polymerized styrene butadiene rubber, Dushanzi 100000 tons of solution polymerized styrene butadiene rubber/low CIS butadiene rubber and 80000 tons of SBS, Lanhua 50000 tons of nitrile rubber, Yanshan 30000 tons of brominated butyl rubber, Shanxiang 30000 tons of chloroprene rubber project in cooperation with Armenia, etc. it is expected to add about 100000 tons of synthetic rubber resources

without the impact of major natural disasters, China's natural rubber production in 2009 will increase significantly over the previous year, and it is expected that the annual production will reach more than 600000 tons. In addition, China's overseas resources will also increase significantly. At present, Guangdong natural rubber industry group has an annual processing capacity of 100000 tons of natural rubber in Thailand, and another factory with an annual processing capacity of 100000 tons will also be put into operation in the second half of the year; After Sinochem International acquired Malaysia Omar Rubber Industry Co., Ltd., it also acquired Singapore GMG company, which integrates the planting, processing and sales of natural rubber, in 2008. It has 51% of the company's total share capital and more than 100000 tons of total resources. This will provide more effective guarantee for domestic natural rubber supply

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