The prices of synthetic rubber have registered a steep fall in the past few months on account of the fall in crude oil prices. The decline in prices has happened in all types of synthetic rubber.
The prices of styrene butadiene rubber (SBR) and poly butadiene rubber (PBR), consumed largely by the tyre sector, have seen substantial fall in the recent period.
Market sources said that the fall in the prices of synthetic rubber would have an impact on natural rubber prices in the medium term.
India’s synthetic rubber output was 112,886 tonnes in the fiscal year ended March 2014, data with the state-run Rubber Board shows. Imports were at 371,839 tonnes, or three-fourths of its total consumption of 483,575 tonnes.
ndia is expected to become self-sufficient in synthetic rubber by 2017 as its production capacity triples, industry executives said, improving raw material supply for tyre makers in a country that is home to one of the world’s biggest car markets.