JAKARTA, Jan 11 (Reuters) – Indonesia’s 2013 rubber output will rise 7 percent on the year to 3.2 million tonnes due to higher yields, the rubber industry body in the world’s second-largest producer said on Friday, with exports seen little-changed at 2.7 million tonnes. Rubber production in Indonesia last year was 3 million tonnes and exports were 2.8 million tonnes, Rusdan Dalimunthe, executive director at the Indonesian Rubber Association (Gapkindo) told Reuters. The expected decline…

SANTA MONICA, Calif.—China’s tire manufacturing sector showed a 20.7-percent increase in revenue in 2012, to $79.3 billion, as companies produced 865.1 million tires, according to a market study. Market research firm IBISWorld said China, the world’s largest tire manufacturing nation—followed by the U.S. and Japan—has shown an average annual growth rate of 24.1 percent in revenue during the past five years, and a production increase of 9.1 percent. The firm’s conclusions are in a new…

KUALA LUMPUR: Top Glove Corp Bhd will raise glove prices by up to five per cent, following the minimum wage law to maintain profits. Currently, Top Glove’s factories in Malaysia employ some 9,000 workers. As the minimum wages law took effect on January 1 2013, group chairman Tan Sri Lim Wee Chai expects labour cost to jump by 50 per cent. “A typical foreign worker doing overtime is already earning RM1,200 per month. With the…

PALEMBANG, Jan 4 (Bernama) — Natural rubber is still the largest export earner apart from the oil and gas for South Sumatra, Indonesia’s Antara reported, quoting the regional office of the Central Bureau of Statistics (BPS) as saying. “South Sumatra’s exports of commodities other than oil and gas were valued at US$3.17 billion in the first 10 months of 2012 with rubber contributing US$2.54 billion,” head of the regional BPS office Baehdi Ruswana said. “Coal…

NEW DELHI (Commodity Online): Despite significant fall in the industrial activities around the world, global natural rubber demand is expected to be firm in 2013 on rising demand. Demand for natural rubber from emerging economies like, Brazil, China and India likely to go up on improved industrial activities. Recovering Chinese manufacturing sector would help to rise in demand for rubber. Last November, China’s auto sales grew to 1.79 mn vehicles, an increase of more than…

Rubber demand in China, the world’s largest auto market, may be unchanged this year as consumption by the heavy-truck sector slows while tire output for passenger vehicles climbs, according to Hangzhou Zhongce Rubber Co. Demand for tires for large trucks will slow this year as the country shifts from heavy industries to a more consumption- driven growth model, Chairman Shen Jinrong said in an interview in Qingdao yesterday. China’s tire industry will use 3.25 million…

SINGAPORE/MUMBAI (Commodity Online): Natural rubber prices may remain depressed on expanding global rubber stocks which is expected to improve margins for tyre makers as natural rubber accounts fo 50-60% of raw material costs, according to Macquarie Equities Research. Macquarie’s Soft Commodity team suggests that rubber price will stay lacklustre due to an expanding surplus in 2013. “Our Global Oil & Gas team‟s forecast of US$106/b 2013 Brent oil price vs US$110/b in 2012 also gives…

Struggling with downturns in various European tire markets and segments, Groupe Michelin is making moves to reduce production and inventory levels, according to various reports. Currently, Michelin passenger tire plants in Europe are reported to be “operating at 75% of their capacity, while those making truck tires are only operating at 60% of capacity,” according to Les Echos. A recent deal with labor unions has given Michelin the ability to be more flexible with its…

Bridgestone Corp. announced that Bridgestone Europe will close its passenger car tire production facility in Modugno (Bari), Italy. The plant is fully owned by Bridgestone Italia S.p.A., a 100% subsidiary of Bridgestone Europe. The Bari plant is one of eight Bridgestone tire plants in Europe – the other facilities are located in Spain, France, Poland and Hungary. “The decision follows an in-depth analysis of the structural changes which have taken place over the last two…

SINGAPORE—The secretary-general of the International Rubber Study Group predicts strong global demand for tires through the coming decade. “Following two years of disappointing economic growth, in response to the European sovereign debt crisis, the weak U.S.A. economic recovery and budget issues, plus the economic slowdown in China, our latest forecasts point to a period of sustained growth and strong demand for new vehicles and tires through the coming decade,” said Stephen Evans, principal guest at…