Michelin buys 2,000 T of rubber after 3-mth hiatus

Newswire

SINGAPORE, April 30 (Reuters) - French tyre manufacturer Michelin has bought up to 2,000 tonnes of rubber, mostly from Indonesia, at between $1.43 and $1.45 a kg after a three-month hiatus, dealers said on Thursday. The SMPT, the rubber purchasing arm of Michelin, is still looking for rubber for June delivery, they said. Some tyre makers have either cancelled long-term contracts to buy rubber or asked for delays in shipments as global economic downturn cuts auto demand. SMPT did not ...

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