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China EV boom, poor Thailand harvest inflate natural rubber prices – Nikkei Asia

China EV boom, poor Thailand harvest inflate natural rubber prices – Nikkei Asia

 

Electric vehicles are a fast-growing segment of China’s auto market, the world’s largest.   © ReutersTOKYO — Natural rubber prices have climbed to a level not seen in nearly three years on growing demand from China’s electric vehicle industry coupled with poor yields in Thailand, a leading producer of the tire material. Benchmark natural rubber futures traded for 283.60 yen ($1.93) a kilogram as of Thursday on the Osaka Exchange. The price was up 11% from the end of 2023. 

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