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SINGAPORE (Dow Jones)–The faster-than-expected global economic recovery and resultant demand for natural rubber will likely dominate short and medium term sentiment in the rubber market, the Association of Natural Rubber Producing Countries said in its latest monthly bulletin.
The demand for natural rubber is also likely to receive a further boost after April, with buyers in the tire manufacturing industry returning to the market.
“(The) tire manufacturing industry by and large postponed purchases in March and April in expectation of comfortable availability after the wintering season,” the ANRPC said in the report dated Tuesday.
It expects global rubber supply from its members to grow 6.2% to 9.367 million metric tons in 2010.
Member countries of the ANRPC account for 94% of global natural rubber supply.
Source: Dow Jones