Covid rubber impact'to mirror financial crisis'

摘要

SINGAPORE-The impact of the Covid-19 crisis on the global rubber market will be broadly similar to that seen during the financial crisis of 2008-2009,independent consultant Dr Hidde Smit has forecast.In an analysis posted 25 June on the International Rubber Study Croup(IRSC)website,Smit noted that back in Q4 2008 and Q1 2009,total rubber consumption dropped 15.8% and 12.2% respectively-as financial uncertainty hit demand for vehicles and tires.This was followed by a rebound in rubber consumption,with increases of 20% and 12.4% respectively in the second and third quarters,and demand restored to pre-crisis levels by early 2010.