China will step up natural rubber imports to feed its growing rubber industry, particularly tyre production, after lower purchases in the first quarter, an industry official said on Wednesday.
China expects to import 1.75 million tonnes of natural rubber in 2007, up from 1.61 million tonnes in 2006, Fan Rende, vice chairman and secretary general of China Rubber Industry Association, told Reuters.
In the first quarter of this year, China imported 497,370 tonnes of natural rubber, down 1 percent from the same period last year as high prices curbed demand.
"From the second quarter, China natural rubber imports will increase because the rubber industry is developing and consumption is increasing," Fan told Reuters on a sidelines of a rubber conference.
Fan said the world's largest rubber consumer and importer is likely to buy more natural rubber from Thailand due to higher output and the better quality of its rubber products.
China's tyre production has grown rapidly, particularly production of radial tyres which has grown above 20 percent a year over the past few years. Tyres account for 60 percent of rubber consumption.
This year, China is expected to consume 5.05 million tonnes of rubber, including 2.35 million tones of natural rubber and 2.7 million tones of synthetic rubber. In 2006, China consumed 4.5 million tonnes of rubber.
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