In June, China’s auto sales were up 9.9%
y-o-y, but lower than May 2012, which indicates world’s biggest car market is
losing steam. China’s auto sales began to slow last year after the government
rolled back buying incentives. Total vehicles sales for June stood at 1.58
million units compared to 1.61 million units in May 2012.
The domestic economy still faces downward pressure;
there is a lack of momentum for rapid growth of auto sales in the short term. China’s
economy has also been weakening, recording 8.1% growth in the first quarter of
this year, its slowest pace in nearly three years.
On the other hand Malaysian rubber market is
expected to be firmer next week. Dealers are bullish that the rubber
prices will edge higher due to supply shortage in major producing countries. However,
price might also be affected by soft demand, impacted by the economic problems
in the eurozone and China’s slow growth.
Read
lot more in Rubber4U – 1st August 2012 issue
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