Data show that during the first nine months of 2013, Shandong Port's natural rubber imports experienced a “decrease in volume or priceâ€: the total amount of natural rubber imports was 937,000 tons, which was 1.4% higher than the same period in 2012; value was US$2.59 billion. It fell by 16.9%; the average import price was US$2,764 per ton, down by 18%.
According to Ren Jun, director of the Rubber Valley Natural Rubber Trading Center, although natural rubber is a spot transaction, it has historically formed a futures pricing model, and the financial nature of futures makes rubber prices more dependent on investor awareness. Investors are driven by the maximization of profits, which makes natural rubber deviate from the true level of the industry and present irrational fluctuations.
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