Hainan Rubber estimates €137m net loss in 2015
Haikou, China – Hainan Rubber Group, China’s largest natural rubber maker, posted its 2015 performance estimate in January pegging annual net loss at 985 million yuan (€137 million).
In 2014 the Group had a €3 million net profit. The downturn is mostly caused by a depressed natural rubber market, said the company’s statement.
Natural rubber price on the Shanghai Futures Exchange dropped to a seven-year low at €1,282/tonne last November, although has bounced back by about 10 percent.
Hainan Rubber has 235,000 square metre rubber plantations with 150,000 tonne/year dry rubber capacity and 400,000 tonne/year processing capacity.