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Global rubber demand will likely reach 26.8 million metric tons in 2012, the International Rubber Study Group said Tuesday, lower than the IRSG’s last estimate of 27.2 million tons, which it made in December.
In a statement, the IRSG forecast demand for natural rubber and synthetic rubber to rise 3.4% and 3.6%, respectively, compared with 2011. The forecasts fell from 4.6% and 5.5%, respectively, in December. It didn’t give reasons for the changes.
Natural rubber production will likely rise by 3.2% in 2012 to 11.3 million tons, the Singapore-based organization said.
It didn’t provide a breakdown of natural and synthetic rubber demand by tonnage.
Source: Dow Jones